http://bugs.winehq.org/show_bug.cgi?id=14675
--- Comment #3 from Owen Rudge owen@owenrudge.net 2008-07-29 10:57:36 --- You're confusing using the "wine" binary to run something directly, and executing it with a program like the Windows "start" program. If you run:
wine start appwiz.cpl
then you will be able to execute the control panel that way. "wine" itself tries to interpret the binary as if it were a .exe, which does not work.