where did you put busybox,psneuter,and the misc.img? sounds like you did not put them into whatever directory that your running your commands from.

typically,yuoll just dump all your files into the "platform tools" directory,but if youve added the android-sdk-windows/tools/platform tools to your path,you can run the commands from whatever directory you want,by changing to that directory when you first open your command window.

one important thing with this guide,make sure that you delete the downgrade file( 1.03.605.10) from the SD card after running it. also make 100% sure that you dont confuse that with the custom firmware file on your computer. you do NOT want to accidentally run the downgrade software,its buggy and can cause issues. also,please note that both of these files need to be named "PG05IMG.zip" on the FAT32 formated sd card in order for the phone to find them.

last and not least,there are a couple videos here that will help you set up ADB and root using the manual method: http://androidforums.com/thunderbolt-all-things-root/322897-thunderbolt-rooting-methods.html