Preface:
I have had Minecraft since back when it was in beta and have not had any issues up until recently with this new launcher.

Steps I take:
1. I login load the (new) Minecraft Launcher and the game downloads all of the new updates and content just fine.
2. I click the play button and the launcher crashes, returning 'exit code 1'
3. I deleted my whole .minecraft folder (I wanted to start fresh) thinking that there might be an issue with some old files and such, and reloaded launcher, same thing happens after successful content download.
4. From here, I uninstall my Java (which was 7_25) and I clean my registry, restart my computer.
5. Load computer back up and download Java 7_25 SE from Java.com
6. Fresh re-install of minecraft and it results in the same error.

Personal Debugging:

• Tried different profiles, nothing.
• Tried 1.2.1 Launcher with three other versions of Minecraft version (1.6.1, 1.5.2, 1.0) and nothing happens
• Tried the old (Pre-Horse update) launcher with Minecraft version 1.5.2 and it works successfully.

Additional Details:
1.6.2 runs fine with my account on buddy's Mac.
I only have 1 version of Java.
No mods are installed.

Attached below is the log of the console.