saves don't work after patch v1.1

[soopytwist]

Previously I'd not had any technical issues with the game apart from it running like a dead dog even on my high spec PC. Since installing patch 1.1 in the vain hope of increased performance I now find my save games don't load, instead crashing the game to desktop with the following message:

Could not create physical body (error -3)
Probably invalid body parameters
Script Stack Call: ->loadsavedgame

Same thing happens if I load an autosave or quicksave but a different message:

Error Opening File: data\models\ties\tools\bucket_phs.cmf
Script Stack Call: ->loadsavedgame

Game works fine if I start a new game. So I see three options. 1. Re-install the game to v1.0 and restore the save games I backed up before patching. 2. Start a new game and use a console command to skip levels to the one I was on last (there's a 'map' command but I don't know the name of the level other than the title in the save game list "Escape". Or 3. Un-install the game, throw it in the bin and play something less crap.

My specs:
Core i7 965 Extreme 3.2Ghz, 3x2Gb Corsair 1600, Asus P6T Deluxe X58, 2Gb Sapphire HD4870X2, Asus Triton-81, 800W FSP Everest, 500Gb Seagate Baracuda, Thermaltake Armor, Dell 2405FPW 24", Vista Ultimate 64bit.