I can't get the program to AoW 1 to boot up at all currently. It tells me me:
"Error Loading: (directory)\Int\GenericT.ilb" and other ilb files. Checking the folder, those files appear to all be there.
Trying to check the Set Up file, it only gives me Install and Exit options - if I try to select Install, it asks for the game's CD. I've both reinstalled it fully and tried to verify/repair - neither have resulted in a change.

Windows? If so, does the game have full access to those files? No security error messages in the log file?

Windows, aye. Where would I find the log file? Its installed into a folder on one of my drives that other games don't have permission issues with, and running it as administrator has the same effect. I will say, it seems to truncate the path name, cutting off of half of it in the middle but I assume its just shortening it for display purposes - I don't know why it'd go looking in a folder that doesn't exist when it was installed to this folder.

I was going to say maybe it is the & in your path, but after some testing seems not to be. Changing the name of any folder after running first time (or moving the game folder) breaks it like you are showing.
You should check the registry maybe to see if that path matches where the game is stored. Start Regedit and check here:

HKEY_CURRENT_USER\SOFTWARE\Triumph Studios\Age of Wonders\General

Make sure both Root Directory and Startup Directory are correct

I'm sorry for my ambiguity. I meant the Windows 'Protection History' where it lists any access violations. There may be an entry that points to your game. If so, open it up and fix the access there.