Welcome to the forums,
Well since you have updated everything
including the most current DirectX (9c dated July 2007), have reinstalled (hopefully the
Complete un-install/re-install ), and still the program crashes, I'm not real sure what may be causing it. I do know that Ulead's products do leave a lot of files behind. Several are shared in a Common directory. When you just uninstall from the Control Panel, these files may not get removed, and then may still pose a problem, when you re-install.
I'm able to run VS11+ on my XP machine without it crashing. You can see my System specs by pressing the System button below.
Please complete your
System Information in your profile. Clicking on this button -->

will take you to a short tutorial, explaining how to find and complete that information. This way it will always be available, and will save you from retyping it in the future.
Obviously there's something about, or installed on your system, and not on mine, that VS does not like. Try shutting down as many tasks, processes as possible. Some of us even have a special
hardware profile, where only the bare essential processes are running.
You might want to review Steve's tutorial on
Creating a Video Editing Profile.