First of all, I'm experiencing the same issue that others running similar to me.
I'm using Windows 7 64bit, with 4gb Ram, and I read a solution of window mode, winxp mode, tried compatibility packs, and also tried lowering my Ram by a 1gb. I still have the menu with black blocks where the text should be and the fly-over cam is grey-ish.
I can't imagine that the Ram is a problem since I physically removed 2gb from my laptop and before that I used msconfig to boot with only 3gb.
Neither worked, and just for clarification, most games tend to work on this laptop.
I'm not thinking specs are the problem, since it's been multiple different types of Win7/64bit computers are failing with it from what I've read.
Any help is appreciated! :)
Edit: Feel stupid for not mentioning this before, but I'm trying to run Arma 1, by the way.