\windows\system32\config\system???

Hi all,
I was wondering if anyone can assist me with my problem. My Gateway laptop all of a sudden wont boot. It gives me this message ( Missing or Corrupt file ) \windows\system32\config\system. The laptop is running XP pro with SP1.

I have an XP cd to repair it, I just need guidlines on what to do.
So far Ive gotten to the part where it says ( Install XP on this Partition or Repair XP ) need help on what to do after that.I have no admin passowrd on it so Ill be able to get into it. I just need further assistance on how to run repair or recovery.

Any other way I can acces my files in that HD?? I need to recover my homework and other documents.

Thanks all.

Just a few posts above are all the answers:
How to repair Windows
http://www.techspot.com/vb/showthread.php?s=&threadid=8356

You could take the HD out and stick it in another PC, to access your files. You probably would need to change the jumpers on the rear of the HD to Slave.