Followed instructions from this site:
Except that my dll's were in program files x86 folder.
After long wait, at last Windows Live Essentials 2011 reaches its RTM. There are 2 installer versions we can use:
Today I had chance to install it. Everything else went smooth but I got msnmgr.exe error when I was “first time” starting the Windows Live Messenger.
The error says The program can’t start because wldlog.dll is missing from your computer. Try reinstalling the program to fix problem.
The error message was only thrown once. But… after that every time I tried to login to Messenger it threw error 80040154. The solution link that leads to msxml3.dll fix didn’t help at all for this version nor reinstalling the Windows Live Messenger.
After long day of research, at last I got the solution. It seems the new Windows Live has grouped the wldcore.dll and wldlog.dll (used by Messenger, Contacts and Mail) to a folder c:\Program Files\Windows Live\Shared
Maybe because I did upgrade install it screwed up things.
The solution was simply copy paste those 2 files wldcore.dll and wldlog.dll from c:\Program Files\Windows Live\Shared to
c:\Program Files\Windows Live\Messenger
c:\Program Files\Windows Live\Contacts
c:\Program Files\Windows Live\Mail