Try deleting the files config.div, slashed.cfg and slashed-d3d6.cfg in the Beyond Divinity folder (if they exist), to force the configuration program to recreate them.

Do you have any video filters installed? At least the ReClock DirectShow Filter needs to be disabled to play the game videos.

You could try doing a clean install of the game. Uninstall, reboot, make sure there is nothing in the Beyond Divinity folder (if you had been able to start a game, you would want to keep the savegames folder), then shut down all non-essential programs (especially anti-virus), re-install the game, reboot, shut down all non-essential programs, install the patch and try starting the game.