Can you try a snapshot?
With Lazarus-0.9.26.3-18768-fpc-2.2.2-20090220 is it OK
(Linking C:\Programy\lazarus\
lazarus.new.exe)
But after linking and closing IDE there appears "Cannot rename lazarus.exe to lazarus.old.exe. Access denied".
(may be starting does not wait enought time for flushing "old" lazarus?)
When I run manually startlazarus.exe, renaming is done and all work as expected.
New Lazarus.exe is 96MB (old is 10MB)
But problem with Lazarus (debug) message box "Cannot open file: C:\Windows\...\lazarus\debug.log" stil exists, but this is not a problem for me at this time.
Thank you very much
-Laco.