[UPDATE 4] *Seems* fixed for me with 0.54.103957
Details: ~21023
[UPDATE 3] http://drekk.armselig.net/arma/a3a-6904-cdump03.rar
Details: ~20050
[UPDATE 2] http://drekk.armselig.net/arma/a3a-6904-cdump02.rar
Details: ~19617
[UPDATE 1] Didn't realize my nVidia drivers were outdated.
Updated now and will check again.
Dump + DxDiag: http://drekk.armselig.net/arma/a3a-6904-cdump01.rar