That is an ATI card, they have some of the crappiest driver updating that I have ever seen. And if somehow it gets damaged, nothing in the world will allow you to repair the drivers, or update them etc....
I had a similar problem with a Rage Fury once, although mine stated that I could only choose 1x1 screen resolution with 16 bit color and of course windows told me that was invalid and loaded the vga drivers. I could not reinstall the drivers (it kept doing to me as it did to you) so, I did as you are thinking about doing, I put in an old STB card I had, rebooted, let it pick it up and install the proper drivers. Shutdown, took the old card out and put my new card in and then booted up. Let it pick up the card and then put the drivers from my cd on it.