"The identity login could not be started. Some components are either missing or incorrectly configured."
"Outlook Express could not be started. It may not be installed correctly. Make sure that your disk is not full or that you are not out of memory."
"Outlook Express could not be started because MSOE.DLL could not be initialized. Outlook Express may not be installed correctly."
I found several solutions to this problem involving the registry and deleting/recreating the identity. I even tried replacing msoe.dll. Nothing worked, so I installed Windows Live Mail.
Then it kept getting errors with MSIDNTLD.DLL. I replaced that file and OE magically works! 
