Bought NS2 back when the alpha came out, worked fine. Its been a year or so and I'm on the same computer with a new Graphics card.
Here's the log: http://pastebin.com/C561gUvN
DxDiag isn't really necessary.
Things that didn't help:
Deleting AppData NS2 folder
Verifying Game Integrity Via Steam
UAC is off
NS2.exe is running as admin
I'm not reinstalling the game because verifying the game files does the same thing.