So apparently this is what happens when you don't read the Beta Requirements section carefully enough...
According to the information here, it appears my video card is not DirectX 9.0c compatible, since it only has Shader 2 functionality.
Not surprisingly, the 3D video looks terribly distorted, as you can see in the linked screenshot: http://img580.imageshack.us/img580/1640/graphics.jpg
Is there anything I can do, or am I just out of luck?
Here is also a pastebin link of my dxdiag info: http://pastebin.com/6uEad3jg