Having the same problem with a 7800GT. Some textures don't show up and there are rainbows in place of foliage, some other objects, and environmental effects like smoke, wakes, and muzzle flashes. I really can't play the game.
---------- Post added at 07:32 PM ---------- Previous post was at 07:26 PM ----------
Double posting so I can subscribe to the thread. I have a friend who programs (not for BI) and he says it sounds like something to do with a faulty compatibility code path based on hardware ID/driver versions. Since you guys have updated your drivers, hopefully there's compatibility code that can be patched on BI's side.
Crossing my fingers that this gets fixed in a patch. I really don't want to build a new computer--yes, this one's 5 years old, but it still runs just fine.
