Found this fix after playing for 8 hours without saving ... If removing the savepath works for everyone (no idea, probably needs investigation), could GOG please fix this in the download to save other people from having to replay half of the game? :) What is the course of action, does GOG read these threads or should I send an e-mail?
cnquist: Just in case anyone reads through all the fixes here and still can't get it working I just removed the savepath="Whateverpath" from the sword1.ini, thats what finally fixed it for me.
Tressflin: Tried all the previously mentioned ideas (quotes around path, changing the path folder, running as Administrator) but this is what fixed it for me. Thank you for posting it!