Dear Klae:
Problem Solved. And thanks a million, billion, trillion for taking the time to help me out.
When I ran RegEdit, the parameters were already set as you had described so, the problem was really in the Tools|Folder Options, File Types Tab.
VBS Files were associated with the Xing Mpeg Player.
I tried to change the parameters but it still wouldn't work.
Finally, I deleted the VBS file extension from File Types, created a new VBS File extension and in the description associated it with VBScript Script File. Bwala!!! everything worked.
Problem now is when i click on an mpeg or mpg file, Windows Scripting Host is executed.
So back to File Types Tab to edit the Mpeg, Mpg extensions. HA HA HA.
I guess the problem was caused by the Xing Mpeg Player installation program.
Again thanks a million, billion, trillion.