Edit: A-ha! Running Microsoft's DirectX web installer seems to have fixed the problem enough to let me run the game, but unfortunately exiting the initial menu to start a new game now results in the screen not being updated, and the mouse cursor leaving trails wherever it goes. This appears to be a glitch in the display driver, and attempting to install the latest available driver resulted in the infamous Code 43 error / bug. Upon wiping the hard drive, installing XP Professional, patching it up, and installing Cryostasis, I can say that a 7800GS manages well enough in 960x600.

Thanks for looking!
I'm having exactly the same problem, though I'm running the demo. The game runs well on the following system config:
Athlon X2 5050e
4096 MB RAM
512 MB GeForce 9500GT (I know, replacing with a 9600GT next month)
Onboard Realtek audio
Windows XP Professional x64
Latest drivers all around.
But it spits out exactly the same error message as nt-121784's computer on my media server:
Core 2 Duo E4400
2048 MB RAM
256 MB GeForce 7800GS AGP
Sound Blaster Audigy
Windows Vista Ultimate (32-bit)
Again, latest drivers for all installed hardware.
Help would be appreciated.