Hmm! o.o Well, it looks like the patch installed fine, but there are some extra files in that folder there... There should ONLY be a "Data" and "Help" folder (and "Save" if you've booted the game at least once). Besides that, there should only TWO files in the main directory, "Bootup" and the "PigeonBlood" program with the pink butterfly icon.
Like this:
pigeonblood.jpg
Looks like you just moved the files off of the ISO. That's not going to work. ^^;;
It also looks like you used the ISO Installer, on top of that. Let's start first by uninstalling the game, then removing the files from that folder. We're going to start fresh!
So make sure the ISO and the Patch are someplace safe... Once that's done, use ONLY the Installer, and install the game back to
C:\Pigeon Blood\
Then, use JUST the Patch.
Try running the game afterwards! o.o