I've got the same problem.
If i try to run the sins.exe, the process appears in the task  manager, but the game doesn't start... even not if waiting half an hour.
 
I figured out that the problem concerns the following file: 
C:\Users\"USERNAME"\AppData\Local\Ironclad Games\Sins of a Solar Empire\Setting\user.setting
Error message: Could not detect if Archive File is Binary or Text
 
any ideas? please
 
Edit: OS is windows 7, i used vista before and it worked without any problems... after the win 7 update the problem occured