Update: I tried installing DirectX 9 using the normal installer (the one which downloads what's needed) but that didn't solve the issue - neither did installing the latest NVidia drivers.
So... what I did next was to get the full DirectX runtime install package and copy the file which was causing the issue (d3dx9_41.dll) over from the cab file in that package to the windows\system32 folder (renaming the one the was already in the windows\system32 folder just in case) - and all of a sudden, it all works! I'm not entirely sure what the issue was as both files seem the same, and I don't know why V1.01 worked, and V1.02 didn't, with the old file (surely they didn't just start using a function as fundamental as D3DXMatrixMultiply in V1.02? and why is this apparently missing in the d3dx9_41.dll I already had?) - who knows, but I'm very happy again now :-)
Thanks for all replies!