Okay. I found a copy of the file here:
LINK and replaced the one that is in the directory with the downloaded file. I was able to launch the game and make it past loading! Only to encounter an issue where I would either get stuck on the Loading The Brothers Bellic screen, or load into a random area with the Platypus ship and no objectives or pedestrians/other characters at all.
I've heard that 1.0.7.0 doesn't work without a savegame, would this have anything to do with it?
Yes, this game is fraught with bugs.
--Purpeltendire