Okay i stopped the service downloaded the hotfix and ran the update tool, browsed for the file and chose to update my engine from 7508 to 7509. IT created a backup and the installation went smooth and completed successfully at 100%. I then started the service and it starts pretty quickly.

Later a splash screen comes up showing the progress of the start and it go all the way till i guess in the application layer at around 85% it hangs, the progress bar is not moving forward at all.]

I restarted the server but no luck. No errors in the event log, it tell me the service has started successfully