Hello,
People who have errors like "209-unable to start VM instance 'ghost--localhost.ghost'" or related must know that Dynamips on Windows doesn't support Unicode (the short answer is that Cygwin is not Unicode-aware, so things that might work in Linux will not necessarily work on Cygwin).
You must not use 2 bytes characters (commonly found Chinese, Korean, Japanese etc... languages). Try to use only ascii characters in all your paths.
On Linux there is no such problem, you can also use GNS3 as a client on Windows with a remote hypervisor that run on Linux (GNS3 v0.6 has an improved Unicode support, so maybe it will not work for previous versions).
I've tried a modified version of Cygwin that support UTF-8 (
http://www.okisoft.co.jp/esc/utf8-cygwin/ ) but Dynamips crashs with it. So at the moment there is no solution.
Hope this will answer many of you questions about common errors.