The pink issue is resolved. You can expect fix in the next Steam update (whenever it will happen)
Affected video cards:
GeForce 8600/8800/9600/120/130
Quadro FX 5600
No more pink issues with this video cards. Users will be able to play fully.
However shadows (High) or Light Shadows lock up process. To fix it for now just disable shadows or experiment with shadows until you have them working. Completely disabling shadows gives you 100% working game.
We will keep working on shadows as it is a known issue for GeForce 320/330 cards.
