Well,
as a first hint, normally crashes are identified better by the team if you provide the error number that the psscreen shows, when it prompts you to save a diagnostic file.
Anyway, I think that your error, as the detailing says s3micd.dll seems that the error is due to a graphic issue.
As the dll says, it\'s a S3 graphics card the one you\'re using, afaik their common graphic cards are not very suitable for 3d gaming (and also consider that PS, despite not having top end graphics, due to its bugs and lack of optimizations, may require a bigger system specifications than another commercial game with similar graphics) and perhaps that problem is related to OpenGL, I think Planeshift uses OpenGL, and perhaps your graphics card doesn\'t like it at all.
It is important to know if you were able to play before or not, but you could always keep a note of the driver version you\'ve right now, and try to update the graphics driver to the latest avaiable to see if that makes any difference.