Repeatable Music Creator 5 crash - Win 7 x64

I've recently purchased MC 5 and have been learning how it works.  I've been able to record 3 midi tracks of percussion, 1 audio track, and 1 midi track for piano.  Every time I record another take over top of the MIDI piano track, the following sequence of events happens:
 
The recording appears work ok. If I then press the PLAY button to listen to the new take, the following error message appears:
 
A fatal error has occurred.
Module: C:\Program Files (x86)\Cakewalk\Shared DXi\Grove Player\Groove
Player.dll
 
A crash dump file has been created here:
C:\Users\Dan\AppData\Roaming\Cakewalk\Music Creator
5\MiniDumps\two point one_11112009_130748.dmp {dump file name changes with each crash}
 
Exception Code: c0000005
Address: 1365C63E:00B08F3A:049BE150
 
As a result of this error Music Creator is about to exit abnormally.
Should Music Creator attempt to save a recovery copy of your work? 
                                                                                                YES  NO
 
After I press NO, the crash happens and the program terminates and goes away.
 
Sometimes when I attempt to re-start MC5 or if I shut down Win 7 to re-boot, a BSOD appears, ****ing something about " IRQ less than or not equal to".   A DMP file is written somewhere (not exactly sure where), and before the BSOD clears, I see mention of a problem with some type of Emu XMidi driver.
 
PC:
Win 7 Pro x64
Intel X25M SSD,
Asus P5E WS PRO mobo
Intel Q6600
8 GB DDR2 800 RAM
EVGA 9500 GT video card (dual monitor setup)
Emu 1212M sound card
Emu xMIDI 2X2
AlphaTrack
Music Creator 5.0.4.23
 
I've attempted to ensure that all drivers are the latest drivers for win 7 x64. The EMU xMIDI drivers are Vista x64 as that's all that is available from Emu.
 
Can someone please comment on what may be the issue? My gut says it's the damned Emu XMIDI driver and there is no better driver for the 2X2 interface.  I can supply both the MC5 mini dump file as well as the WIN 7 DMP file if necessary.   Thanks in advance!
 

From the support files:

Although Music Creator 5 is not a native 64-bit application, it will install and function under a 64-bit OS. There are a few extra steps that need to be taken in order for it to install and function properly.

Installation
For the downloaded copy of Music Creator and Cakewalk Sound Center, please take the following steps:

1. Right-click on the setup file
2. Go to Properties | click the Compatibility tab
3. Check the box Run in Compatibility Mode and Run this Program as Administrator. Leaving Windows XP (SP3) selected.
4. Do this for both the Sound Center installer as well as Music Creator 5.
5. Run the installers.
6. Once complete, go through the same steps above with the Music Creator 5 shortcut that you will be using.

For the DVD version, navigate to Computer, right-click on your DVD ROM drive and click Open. Now go through the steps above by right-clicking the Setup file on the disc.

Note - Windows 7 x64 uses the Program Compatibility Assistant, which should pick up the needed settings automatically. Click Reinstall in Compatibility Mode if prompted.


VST Scan
In order for the various soft synths (including Sound Center) to be picked up by the VST Scanner, you must manually add the (x86) VST Plug-ins path:

1. Go to Options | Global | VST Plug-ins
2. Click Add and navigate to C:\Program Files (x86)\Cakewalk\vstplugins
3. Once added, click the Scan VST Folders button

57 Gregy, Robomusic, Beagle:  Thanks for your input ! I am not using any soft synths with MC5. I'm using a separate PC (my stage rig) which is running Brainspawn Forte and all of my VST's.  I run MIDIox on the stage rig to echo and transmit all MIDI data from my keyboards over to the MC5 machine for recording, and output the recorded MIDI from MC5 back over to the VST machine for playback.
 
I used Robomusic' advise for initially installing the two applications (MC5 and  Cakewalk Sound Center), but not sure if I've chosen XP SP3 compatibility mode for the shortcut - I'll double check that.
 
I like MC5 for recording straight MIDI because it's simple and fairly straight forward. Should I consider moving up to a more advanced package like Sonar?  I normally won't be running soft synths from within my recording application software - be it MC 5 or Sonar.
 
Recording audio so far hasn't been a problem with MC 5.  I also have Reaper to use for recording audio but it has a much steeper learning curve.  It seems to be a lot more intuitive to use MC5 for recording MIDI as compared to Reaper.
 
 
Thanks Gentlemen!
 
Boxerdad
 
 
 

The error above is related to the Audio Metronome. Do you have the metronome enable for playback? Do you still get the error if disable it under Options | Project | Metronome?

Try going to Start | Run (Windows+R) and type in the following:
regsvr32 "C:\Program Files (x86)\Cakewalk\Shared DXi\Groove Player\Grooveplayer.dll"

Does the .dll file register successfully?