First, let me say it's been a pleasure playing this game. It's awesome.
Now for the issue; some background first.
I had to reformat my computer a few months back. i've been encountering problems with older software and games like CS, Neverwinter Nights, FF8 and now with M.U.L.E .
I tried to open a game and all i got was a black window.
After 5 really wild nights i figured out that I missed a DLL file called atioglxx.dll
That solved all my problems, hope it gives you some help too. I don't know how this will help people with nvidia etc, but it doesn't hurt to try.
Thank you.
Get the DLL file (in case you don't know what google is) from :
www.dll-files.com