Neither runs after validation in Steam. I'm Windows 7 Pro, 4G RAM, Intel Dual-cor E5700 3GHz & Intel G41 Express Chipset GPU.
Windows event log points me to a dump file:
Version=1
EventType=APPCRASH
EventTime=129889446815922930
ReportType=2
Consent=1
UploadTime=129889446817112999
ReportIdentifier=bf2fc907-e1b6-11e1-9abe-78acc09b529e
IntegratorReportIdentifier=bf2fc906-e1b6-11e1-9abe-78acc09b529e
Response.BucketId=2840773345
Response.BucketTable=1
Response.type=4
Sig[0].Name=Application Name
Sig[0].Value=arma2.exe
Sig[1].Name=Application Version
Sig[1].Value=1.11.86.734
Sig[2].Name=Application Timestamp
Sig[2].Value=4ed37db1
Sig[3].Name=Fault Module Name
Sig[3].Value=arma2.exe
Sig[4].Name=Fault Module Version
Sig[4].Value=1.11.86.734
Sig[5].Name=Fault Module Timestamp
Sig[5].Value=4ed37db1
Sig[6].Name=Exception Code
Sig[6].Value=c0000005
Sig[7].Name=Exception Offset
Sig[7].Value=0050dae7
DynamicSig[1].Name=OS Version
DynamicSig[1].Value=6.1.7601.2.1.0.256.48
DynamicSig[2].Name=Locale ID
DynamicSig[2].Value=1033
DynamicSig[22].Name=Additional Information 1
DynamicSig[22].Value=0597
DynamicSig[23].Name=Additional Information 2
DynamicSig[23].Value=0597e264fb7c75e53da7d649e5a4d85c
DynamicSig[24].Name=Additional Information 3
DynamicSig[24].Value=37db
DynamicSig[25].Name=Additional Information 4
DynamicSig[25].Value=37db8fe33c8fa584cfcc72adc76a6b2c
UI[2]=c:\program files\steam\steamapps\common\arma 2\arma2.exe
UI[3]=ArmA 2 has stopped working
UI[4]=Windows can check online for a solution to the problem.
UI[5]=Check online for a solution and close the program
UI[6]=Check online for a solution later and close the program
UI[7]=Close the program
LoadedModule[0]=c:\program files\steam\steamapps\common\arma 2\arma2.exe
LoadedModule[1]=C:\Windows\SYSTEM32\ntdll.dll
LoadedModule[2]=C:\Windows\system32\kernel32.dll
LoadedModule[3]=C:\Windows\system32\KERNELBASE.dll
LoadedModule[4]=C:\Windows\system32\DDRAW.dll
LoadedModule[5]=C:\Windows\system32\msvcrt.dll
LoadedModule[6]=C:\Windows\system32\USER32.dll
LoadedModule[7]=C:\Windows\system32\GDI32.dll
LoadedModule[8]=C:\Windows\system32\LPK.dll
LoadedModule[9]=C:\Windows\system32\USP10.dll
LoadedModule[10]=C:\Windows\system32\DCIMAN32.dll
LoadedModule[11]=C:\Windows\system32\SETUPAPI.dll
LoadedModule[12]=C:\Windows\system32\CFGMGR32.dll
LoadedModule[13]=C:\Windows\system32\RPCRT4.dll
LoadedModule[14]=C:\Windows\system32\ADVAPI32.dll
LoadedModule[15]=C:\Windows\SYSTEM32\sechost.dll
LoadedModule[16]=C:\Windows\system32\OLEAUT32.dll
LoadedModule[17]=C:\Windows\system32\ole32.dll
LoadedModule[18]=C:\Windows\system32\DEVOBJ.dll
LoadedModule[19]=C:\Windows\system32\dwmapi.dll
LoadedModule[20]=C:\Windows\system32\WINMM.dll
LoadedModule[21]=C:\Windows\system32\SHELL32.dll
LoadedModule[22]=C:\Windows\system32\SHLWAPI.dll
LoadedModule[23]=C:\Windows\system32\DINPUT8.dll
LoadedModule[24]=C:\Windows\system32\WS2_32.dll
LoadedModule[25]=C:\Windows\system32\NSI.dll
LoadedModule[26]=C:\Windows\system32\DSOUND.dll
LoadedModule[27]=C:\Windows\system32\POWRPROF.dll
LoadedModule[28]=C:\Windows\system32\X3DAudio1_6.dll
LoadedModule[29]=C:\Windows\system32\XINPUT1_3.dll
LoadedModule[30]=C:\Windows\system32\d3d9.dll
LoadedModule[31]=C:\Windows\system32\VERSION.dll
LoadedModule[32]=C:\Windows\system32\d3d8thk.dll
LoadedModule[33]=C:\Windows\system32\d3dx9_41.dll
LoadedModule[34]=C:\Windows\system32\IMM32.DLL
LoadedModule[35]=C:\Windows\system32\MSCTF.dll
State[0].Key=Transport.DoneStage1
State[0].Value=1
State[1].Key=DataRequest
State[1].Value=Bucket=-1454193951/nBucketTable=1/nResponse=1/n
FriendlyEventName=Stopped working
ConsentKey=APPCRASH
AppName=ArmA 2
AppPath=c:\program files\steam\steamapps\common\arma 2\arma2.exe