Can't start game today.

I have the Steam version of the game. I have created a thread on the Steam forums but I'm hoping somebody here could help me as well. When I tried running the game today, I get a message saying:

Performing first time setup...
Installing (step of)

Then it just hangs at this stage forever. I've tried verifying game cache, restarting Steam...nothing seems to work. Am I going to have to reinstall this 9.8 gig game? :(

If anyone else runs into this problem I deleted install_39210.vdf from the game's file folder and it started the SE launcher when I went to run the game. Problem solved...I should have bought the non-steam version...