Racket 5.2 is built from source, in-place installation, added path in $PATH.
Emacs is 23.
The debug error message:
bugger entered--Lisp error: (error "Couldn't start Geiser")
signal(error ("Couldn't start Geiser"))
error("Couldn't start Geiser")
byte-code("\301\302!\303\261\210\304\305!\207" [err "Unable to start
REPL:\n"
error-message-string "\n" error "Couldn't start Geiser"] 3)
geiser-repl--start-scheme(racket nil "\\(\\(mzscheme\\|racket\\)@[^ ]*?> \\)")
geiser-repl--start-repl(racket nil)
geiser(racket)
call-interactively(geiser t nil)
execute-extended-command(nil)
call-interactively(execute-extended-command nil nil)