Your graphics isnt black. Your gamma/ brightness is just really really low.
I edited the pic a bit and i can see other things when increased brightness. Just set your gamma/brightness alot higher.
Heres a pic.
http://i56.tinypic.com/xvign.png
"WTH? I downloaded those new drivers, installed them, restarted PC, but after restart, the colors where at 4 bit! and a crappy resolution"
This means you didnt install the new drivers correctly.
btw if installing new drivers or putting gamma/brightness higher doesnt work.
Try this compatibility test out
http://www.frictionalgames.com/forum/thread-3656.html
Report back if everythings good or if some frames didnt render correctly.