Wait, I had the same problem with gamersgate but it was easily solved :
Try entering your serial leaving out the first or the last block. It's odd, but the publisher's latest update seems to have changed the serial check, and installation can only proceed if a part of the serial is omitted.
I advised this to someone on TWC and since he didn't answeranything but just posted about how happy he was with EB2 I suppose it worked for him...
This is for the installation. Now for the patch, the main problem is to identify wich gold edition you have (Us, Uk or EU) and then use the patch 1.5 from the same region.
After that, never try to run kingdom with the .exe but with one of the shorcut on the desktop (if you really want to play one of the kingdopms campaigns, if not don't even bother) or simply install EB2 and play it directly.
I had many troubles with the GamersGate retail version but they all had a silly solution in the end.
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