I was the guy who posted about the 4.0 issue being the problem, and I'm a beta tester. I've tried it with multiple flavors of WINE including built binaries, Crossover and Wineskin Winery. I'm currently run OS X 10.8.2.
The problem with .NET 4.0 is that it may install partially for some people, but not others, depending upon the package of WINE you're using, and the sources. For most people the problem is the installation process, and that's what I ran into mostly - it's not that .NET 4.0 won't work but getting the damnable thing to install in the first place. I was going to go ahead and rebuild all the code and make a new binary for myself, but that's too much work for me (although I can do it).
.NET 4.0 according to APPDB is all teh suck at the moment:
http://appdb.winehq.org/objectManager.php?sClass=version&iId=17886