Same here, water looks black and about half of all other terrain white, as are all other planes - and this is 5-10 minutes into flight. My frame rate was still in the 70s. If I turned detailed terrain off the terrain looked correct, but skins still didn't.
Never had this problem before d/ling the new patch tonight. Bump map terrain and object self shadow were off.
DxDiag:
------------------
System Information
------------------
Time of this report: 8/26/2009, 03:29:21
Machine name: DOKTORAVALANCHE
Operating System: Windows XP Professional (5.1, Build 2600) Service Pack 3 (2600.xpsp_sp3_gdr.090206-1234)
Language: English (Regional Setting: English)
System Manufacturer: HP Pavilion 061
System Model: EX265AA-ABA a1510n
BIOS: Phoenix - AwardBIOS v6.00PG
Processor: AMD Athlon(tm) 64 Processor 3800+, MMX, 3DNow, ~2.4GHz
Memory: 2046MB RAM
Page File: 429MB used, 2903MB available
Windows Dir: C:\WINDOWS
DirectX Version: DirectX 9.0c (4.09.0000.0904)
DX Setup Parameters: Not found
DxDiag Version: 5.03.2600.5512 32bit Unicode
------------
DxDiag Notes
------------
DirectX Files Tab: No problems found.
Display Tab 1: No problems found.
Sound Tab 1: No problems found.
Music Tab: No problems found.
Input Tab: No problems found.
Network Tab: No problems found.
--------------------
DirectX Debug Levels
--------------------
Direct3D: 0/4 (n/a)
DirectDraw: 0/4 (retail)
DirectInput: 0/5 (n/a)
DirectMusic: 0/5 (n/a)
DirectPlay: 0/9 (retail)
DirectSound: 0/5 (retail)
DirectShow: 0/6 (retail)
---------------
Display Devices
---------------
Card name: NVIDIA GeForce 9500 GT
Manufacturer: NVIDIA
Chip type: GeForce 9500 GT
DAC type: Integrated RAMDAC
Device Key: Enum\PCI\VEN_10DE&DEV_0640&SUBSYS_C9583842&REV_A1
Display Memory: 1024.0 MB
Current Mode: 1024 x 768 (32 bit) (85Hz)
Monitor: HP mx705 CRT Monitor
Monitor Max Res: 1280,1024
Driver Name: nv4_disp.dll
Driver Version: 6.14.0011.8120 (English)
DDI Version: 9 (or higher)
Driver Attributes: Final Retail
Driver Date/Size: 12/25/2008 12:08:00, 6168960 bytes
WHQL Logo'd: Yes
WHQL Date Stamp: n/a
VDD: n/a
Mini VDD: nv4_mini.sys
Mini VDD Date: 12/25/2008 12:08:00, 6301344 bytes
Device Identifier: {D7B71E3E-4500-11CF-4A44-53E900C2CB35}
Vendor ID: 0x10DE
Device ID: 0x0640
SubSys ID: 0xC9583842
Revision ID: 0x00A1
Revision ID: 0x00A1
Video Accel: ModeMPEG2_C ModeMPEG2_D ModeWMV9_B ModeWMV9_A
Deinterlace Caps: {6CB69578-7617-4637-91E5-1C02DB810285}: Format(In/Out)=(YUY2,YUY2) Frames(Prev/Fwd/Back)=(0,0,0) Caps=VideoProcess_YUV2RGB VideoProcess_StretchX VideoProcess_StretchY DeinterlaceTech_PixelAdaptive
{335AA36E-7884-43A4-9C91-7F87FAF3E37E}: Format(In/Out)=(YUY2,YUY2) Frames(Prev/Fwd/Back)=(0,0,0) Caps=VideoProcess_YUV2RGB VideoProcess_StretchX VideoProcess_StretchY DeinterlaceTech_BOBVerticalSt retch
{6CB69578-7617-4637-91E5-1C02DB810285}: Format(In/Out)=(UYVY,YUY2) Frames(Prev/Fwd/Back)=(0,0,0) Caps=VideoProcess_YUV2RGB VideoProcess_StretchX VideoProcess_StretchY DeinterlaceTech_PixelAdaptive
{335AA36E-7884-43A4-9C91-7F87FAF3E37E}: Format(In/Out)=(UYVY,YUY2) Frames(Prev/Fwd/Back)=(0,0,0) Caps=VideoProcess_YUV2RGB VideoProcess_StretchX VideoProcess_StretchY DeinterlaceTech_BOBVerticalSt retch
{6CB69578-7617-4637-91E5-1C02DB810285}: Format(In/Out)=(YV12,0x3231564e) Frames(Prev/Fwd/Back)=(0,0,0) Caps=VideoProcess_YUV2RGB VideoProcess_StretchX VideoProcess_StretchY DeinterlaceTech_PixelAdaptive
{335AA36E-7884-43A4-9C91-7F87FAF3E37E}: Format(In/Out)=(YV12,0x3231564e) Frames(Prev/Fwd/Back)=(0,0,0) Caps=VideoProcess_YUV2RGB VideoProcess_StretchX VideoProcess_StretchY DeinterlaceTech_BOBVerticalSt retch
{6CB69578-7617-4637-91E5-1C02DB810285}: Format(In/Out)=(NV12,0x3231564e) Frames(Prev/Fwd/Back)=(0,0,0) Caps=VideoProcess_YUV2RGB VideoProcess_StretchX VideoProcess_StretchY DeinterlaceTech_PixelAdaptive
{335AA36E-7884-43A4-9C91-7F87FAF3E37E}: Format(In/Out)=(NV12,0x3231564e) Frames(Prev/Fwd/Back)=(0,0,0) Caps=VideoProcess_YUV2RGB VideoProcess_StretchX VideoProcess_StretchY DeinterlaceTech_BOBVerticalSt retch
Registry: OK
DDraw Status: Enabled
D3D Status: Enabled
AGP Status: Enabled
DDraw Test Result: Not run
D3D7 Test Result: Not run
D3D8 Test Result: Not run
D3D9 Test Result: Not run
-------------
Sound Devices
-------------
Description: Realtek HD Audio rear output
Default Sound Playback: Yes
Default Voice Playback: Yes
Hardware ID: HDAUDIO\FUNC_01&VEN_10EC&DEV_0883&SUBSYS_103C2A3E&REV_1000
Manufacturer ID: 1
Product ID: 100
Type: WDM
Driver Name: RtkHDAud.sys
Driver Version: 5.10.0000.5229 (English)
Driver Attributes: Final Retail
WHQL Logo'd: Yes
Date and Size: 3/8/2006 09:27:12, 4246016 bytes
Other Files:
Driver Provider: Realtek Semiconductor Corp.
HW Accel Level: Standard
Cap Flags: 0xF5F
Min/Max Sample Rate: 8000, 192000
Static/Strm HW Mix Bufs: 33, 32
Static/Strm HW 3D Bufs: 33, 32
HW Memory: 0
Voice Management: No
EAX(tm) 2.0 Listen/Src: No, No
I3DL2(tm) Listen/Src: No, No
Sensaura(tm) ZoomFX(tm): No
Registry: OK
Sound Test Result: Not run
---------------------
Sound Capture Devices
---------------------
Description: Line in/Mic in
Default Sound Capture: Yes
Default Voice Capture: Yes
Driver Name: RtkHDAud.sys
Driver Version: 5.10.0000.5229 (English)
Driver Attributes: Final Retail
Date and Size: 3/8/2006 09:27:12, 4246016 bytes
Cap Flags: 0x41
Format Flags: 0xFFF
(rest of report maskes the post too large)