The problem may be with one of your fonts rather than with Photoshop; do you have any problems with any of the fonts in other packages? (e.g.: Word)
Try removing or renaming your fonts directory, copying just the basic times, courier stuff back in and then seeing if Photoshop starts up - if it does then obviously one of your fonts is killing it so you just need to copy them back bit by bit and see which one causes the problem.
Just an idea anyway!
=)
PetitPal