I had a similar problem with an XP pro laptop, only difference I have is no firewall/DSL device since SME can do this just fine.
In my situation, the XP pro user was logged into XP using the same username and password as on the SME server. PPTP failed.
When the XP pro user used a different pptp username and password (but did not use a different XP login), the connection works. So, this tells me that you can't be logged into XP with the same login account you attempt to connect with PPTP to an SME server? Since using a different pptp user account works, I did not attempt to find the techincal reason the first attempt failed. Hope this helps you.
By the way, you have applied the XP registry hack for SMB to SME?
RS