This is an adaptation of my last post in the step-by-step failure thread, since now it's not a failure:
Here are the steps I used:
1) Install VC++ Redistributable 2005 and 2008 into a fresh Win2k bottle, using CXGames 8.0 installer.
2) Install DirectX 9 Legacy, using CXGames 8.0 installer (this step may be unnecessary -- see step 3).
3) Install NWN2 OC. This time, unlike previous attempts, both .NET 2.0 and DirectX 9 installed successfully after the main install.
4) Patch up to the most recent 1.23 (to shake off the DRM).
That's actually all I did. I didn't touch the registry or do any magic with the DLLs. The key was the win2k bottle. If you use a winxp bottle, all sorts of things don't install properly.
Once I had this working properly, I then did:
5) Install MotB and SoZ.
6) Patch again up to 1.23 (since SoZ drops you back to 1.20).
I've successfully played from a saved game as well as multiplayer on a persistent world.