I am getting the same error.

Fatal error: main() [function.require]: Failed opening required '/include/smarty/libs/Smarty.class.php' (include_path='.:/usr/lib/php:/usr/local/lib/php') in /home/*******/public_html/include/vshare.php on line 31

Here is the config.php with the sensitive information changed to protect the innocent.

Code:
<?

error_reporting(E_ALL & ~E_NOTICE & ~E_WARNING);
session_start();

$db_host     = "localhost";
$db_name     = "*****";
$db_user     = "*****";
$db_pass     = "*****";

$config = array();

$config['ffmpeg']          =  "/usr/local/bin/ffmpeg";
$config['mplayer']          =  "/usr/local/bin/ffmpeg";
$config['mencoder']          =  "/usr/local/bin/ffmpeg";
$config['flvtool']          =  "/usr/local/bin/ffmpeg";
$config['basedir']        =  "";
$config['baseurl']        =  "http://*****.com";

include($config['basedir'] . "/home/*****/public_html/include/vshare.php");

?>
The files are not inside a directory called "vshare" but rather the whole thing resides in the root directory "public_html". Not sure if that matters.