Hi Groover, one thing you could try for V3 is to go to Options > General > "Edit .ini file" and inside the moi.ini file find the setting for DisplayThreadLimit which is in the [View] section and set it to:
DisplayThreadLimit=1
That will disable use of multiple threads in the display engine (for both V3 and V4 too), there is a small possibility that may help with your particular video driver.
Other than that I don't know of anything else other than getting an updated video driver if one becomes available. If you still can't run V3 properly on your machine please send me an e-mail at moi@moi3d.com and I can give you a refund.
- Michael
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