Just to add that I also had the same problem...

I have 8 cd drives, so I thought it would be wise to point to the real cd source in the xpcreate.ini.

Once I did that, I got the "cannot find bootimg" error and that was that.

Removing my edits in xpcreate.ini did not help (still the same error).

Manually extracting the bootimg with bbie and renaming/placing it in the right folder (as per instructed in this thread) did the trick.

Just fyi and many thanks for the great utility!

I know ... that has been corrected in the next release. Since there is a work-around, I am not making a "special update".

Still, thanks for pointing it out, and thanks for your thanks! Or should that read, "You are welcome" ...