Have you seen this article?
I suggest you go back to the original ldvpe1.img and apply "the driver pack", as explained in the article.
I suppose you still have the original ldvpe1.img. Just in case you don't, try "wpeaddmsd /purge", whereby wpeaddmsd is one of the tools that comes with the article. I think I know what causes "txtsetup.oem could not be found" (the incredibily verbose explanation is in this other article) and wpeaddmsd /purge should fix it.
Nope never seen that article before. You would figure it would come up a little more often then it has. Gonna give it a try. Since posting I have gone back to my original ldvpe1.img and was about to re-add the NIC driver so I could continue to troubleshoot the SATA driver.
Thanks again for your help.
Well that got it Thanks once again.
BTW the tools he mentions are in the Driverpack zip. Just explode them on the core, read the PDF contained within and run the utilities.
Also those of you with newer Dell Precision boxes make sure RAID in the BIOS is turned off. That little tidbit is what started me down this little road of WinPE destruction.