Are you missing the dsound.dll?
No it's there, dsound.dll, dinpu8t.dll, dsound.ini.
Left the ini default currently.
Edit: I will say though in case it may be causing a issue that when I install Mabinogi it always deletes my Symbolic Link for the account currently installing the game that I create in my C:\User folder, which after recreated I have to go in Regedit and delete the "Files" entry for Mabinogi so it recreates one on Launchup else it always crashes. If perhaps it causes issues.
Edit: My game is also installed on another drive away from the default location.
Edit: Ok not sure if I'm even correct in saying this but looks like dsound.dll is not being loaded along with the game. For example with the game loaded I can delete dsound.dll and my PC does not complain about it currently being in use but dinput8.dll is infact being used.
Excuse all the edits just trying to help someone troubleshoot this problem for me, honestly I'm stumped.
Edit: Renaming dsound.dll to dinput8.dll at least loads it this time because I actually get a Abyss_patchlog.txt but the game fails to load. (No error message spat out.)
The patchlog just told me all the things failed to load.
I think I isolated the problem to dsound.dll not loading but I have no idea where to go from here to fix the issue.