Okay so it looks like OpenGL isn't supported under 64-bit Windows 7.

http://users.pcflive.co.za/12999/win7%20release%20note.html

I really may just break down and get an NVIDIA card

Like I said if the graphics quality isn't on "Low" the menu lags horribly, it could be something with the format of the texture or the size. 

It's the latest drivers, but it's the ATI "Windows 7 beta" drivers so who knows.  I may try their official Vista drivers and see how that goes.

Hey thanks for the log file location!

Yeah it's the Steam version, bought.

Renderer startup took 354636 microseconds
Audio startup took 1959392 microseconds
[2009/01/25 16:17:57] Game started
Trace: Load OGL texture
Stack trace: loadgraphic
Application cleanup failed: Win32 Exception

My resolution is 1680x1050 and my graphics quality is set to "Low".  If I set it any higher I get huge amounts of lag in the menus.

I'd be glad to try a debug version if you want.

*edit* Just noticed, I messed up above.  I was on Vista 64-bit, now I'm on 64-bit Windows 7 beta.

Is anybody else getting a crash when the game tries to launch?

I'm using an ATI card on Vista 64-bit, and I can't get the game itself to launch at all.  I can get to the menus, but "Quick Match" crashes every time.  I've tried all the compatibility mode settings as well.