Like others, I had the problem where starting the game from Steam produces a "Preparing to Launch" dialogue followed by nothing. Starting directly from the app produced nothing, except a brief flash of "universe sandbox.exe" in taskamanger's process list.
After following the recommendations in the sticky post as well any other idea from a "can't load the program" thread I could find here, the game still wouldn't work.
So, finally, it occurred to me to try my general-solution-for-games-that-hate-multicore-processors, previously used to get SimCity4 and a few other older games to run on my first dualcore and later again on my hexacore.
Made a .bat for runfirst.exe to load the game, and voila. Loaded the 1st try. It ran rather crappily though, so in a random stroke of genius, I decided to re-allow affinity to the other cores once the program was loaded. Double-Voila, runs like a dream (until i drop >4 galaxies into a simulation, but that's to be expected.)
So, for anyone still having trouble loading the game after updating/repairing/reinstalling .Net/vcredist/directx/windows:
1. Get a program that will load the game with affinity to only one processor/core. I use runfirst.exe
2. if it performs poorly after that, re-assign affinity to more cores via taskmanager.
3. Enjoy The Massive Coolness That Is Universe Sandbox