I just recently installed PS and am now trying to run it.
However, it crashes with ridiculous frequency. As in about a minute or so after loading. It doesn't seem to be triggered by anything in particular; first it was in char creation, then I sped through a quick background instead of choosing myself, thinking perhaps it would work in the game itself, but that didn't help. Usually I get into the actual game for a few seconds to maybe a minute, then it just randomly crashes.
I also get the 'smeared' and moving ground effect, but that I can live with.
I have tried turning every setting I can find on the launcher on or off or up or down (sound on/off, fullscreen on/off, vbo on/off, loading cache on/off, texture high/med/low, anitaliasing or anisotropic filtering on various settings, etc. Tried all the graphics settings at least once, including several different combinations). I have fully updated graphics drivers (I checked about four times.) I have uninstalled and reinstalled the game. It seems to be fully updating, though the repair function doesn't seem to do anything (it gets to 'downloading integrity data:' then does nothing else.)
I'm running on a laptop with Windows 7 64-bit. It has a pentium(r) dual-core T4400 @ 2.2 GHz 2.2 GHz with 4 GB RAM. It has an Intel(r) 4 series chipset (GMA 4500M). It has 200+ GB free and cable wireless internet. As far as I can tell, I should be able to play with no trouble.
ETA:
When it crashes, this is what's under the 'view details' tab:
Problem signature:
Problem Event Name: BEX64
Application Name: psclient.exe
Application Version: 0.5.6.1
Application Timestamp: 4d7ce735
Fault Module Name: StackHash_ae45
Fault Module Version: 0.0.0.0
Fault Module Timestamp: 00000000
Exception Offset: 0000000037101010
Exception Code: c0000005
Exception Data: 0000000000000008
OS Version: 6.1.7600.2.0.0.768.3
Locale ID: 1033
Additional Information 1: ae45
Additional Information 2: ae455cc71ff9b55990ba31cf3071f39f
Additional Information 3: d48d
Additional Information 4: d48d1d07090710fcea44a8a62f63ffdb
I did run it through the command prompt for more info, but it didn't print anything in the prompt.