So if you are still in the research phase, why is running Windows not an option? If you find out that your program will not work with Wine than you have to use Windows (or Mono, I would rather concentrate on that than on Wine).
i am a complete newbie to linux world and dont know how things work around here.
Sorry that I have to say that, but in that case you are obviously the wrong person to research and plan a migration to Linux.
Also, as I have stated before, Wine is a moving target, what may work today may possibly not work after the next update. Do not use Wine for anything that may be important for your company, it can seriously backfire on you.
I would still recommend to have a look at these considerations, in that order:
1. Is the developer of that application may be able to deliver a Linux version?
2. Is there any alternative that is native to Linux you can migrate to?
3. Is that application probably working with Mono?
4. Now would be the time to think about that: Is it possible to migrate that service to Linux? If it is only possible with Wine, do you really want to depend on a software layer that is known to change and have regressions with your system critical software?
To the link you gave us for that registry hack: All those issues were fixed with version 1.3.30, so you don't need anything of that and it seems to be unrelated to your problem.
Some questions: Have you used winetricks to install the .NET framework and the service pack, as recommended? Have you set the library mscoree.dll
to use the inbuilt override within winecfg, as suggested by the site for .NET V1.1 on the WineAppDB, as suggested?