I've got the same thing running Beta 3. Here's the top part of debug.err with my system specs:
DirectX Version: DirectX 9.0c (4.09.0000.0904)
Operating System: Windows 2000 Professional (5.0, Build 2195) Service Pack 4
Languages: English (Regional Setting: English)
System Manufacturer: VIAK8_
System Model: AWRDACPI
BIOS: Phoenix - AwardBIOS v6.00PG
Processor: Unknown AMD processor, ~1.8GHz
Physical Memory: 1024MB RAM
Page File: 167MB used, 1527MB available
Windows Dir: C:\WINNT
Display Info
Display device 1:
Device Name: \\.\DISPLAY1
Card Name: NVIDIA GeForce4 Ti 4200
Manufacturer: NVIDIA
Chip Type: GeForce4 Ti 4200
DAC Type: Integrated RAMDAC
Key Device: Enum\PCI\VEN_10DE&DEV_0253&SUBSYS_87001462&REV_A3
Display Memory: 64.0 MB
Current Display Mode: 1280 x 1024 (32 bit) (60Hz)
Monitor Name: ImageQuest L70S
Monitor Max Resolution: 1280, 1024
Driver Name: nv4_disp.dll
Driver Version: 6.14.0010.8421
Driver Date: 3/9/2006 15:29:00
DirectX Acceleration Enabled: Yes
Sound info
Sound device 1:
Description: Envy24 Family Audio (WDM)
Default Sound Playback: No
Default Voice Playback: No
Hardware ID: PCI\VEN_1412&DEV_1724&SUBSYS_2C0517F2&REV_01
Manufacturer ID: 1
Product ID: 100
Driver Name: Envy24HF.sys
Provider: VIA - IC Ensemble, Inc.
Driver Version: 5.12.0001.3613
Driver Date: 5/6/2003 22:14:28
Type: WDM
Other Drivers:
Acceleration Level: 2
Cap Flags: 0
Min/Max Sample Rate: 0, 0