I wouldn't make it so hard on yourself, just boot from the CD, it'll be easier than playing with running winnt32.exe from a command line. If you run it from a command line you have to make sure CDROM ...
In my Win2000 box, when I open command prompt cmd (it goes to C: ). In the Win XP Pro when I go to Run ,than type "cmd" it goes to Documents and Settings/myusername. Where I can change the path, in ...