I haven't tried Win7PE SE before, but I tried the latest release (2016-06-16), and it only boots to a blank desktop (wallpaper, but no icons, taskbar, etc). Yes, it does boot correctly under emulation, so it seems to be a compatibility problem with real PC(s). Anyone else had this problem?
Are there old releases of Win7PE SE that I could try? I can't find any :(
I'd really like to get Win7PE SE working, as it seems to be the only WinBuilder project that supports BitLocker. I've also used Win8.1SE for a while, and that works great (but sadly won't open registry hives of Win 7 PCs, plus of course SFC won't work, so not much use for my needs).