Initializing OpenGL graphics device at 1680x1050 with 32-bit color...
Initializing SDL...
Requested SDL Video values = R: 8, G: 8, B: 8, depth: 24, stencil: 8, double-buffer: 1, FSAA: 32
Actual SDL Video values = R: 8, G: 8, B: 8, depth: 24, stencil: 8, double-buffer: 1, FSAA: 8
OpenGL Vendor : ATI Technologies Inc.
OpenGL Renderer : AMD Radeon HD 6770M OpenGL Engine
OpenGL Version : 2.1 ATI-7.32.12
That can't be right. That GPU can support OpenGL up to version 4 with proper drivers (read: Windows and closed-source Linux/Unix). If you can, I would suggest updating; as it is, you will need to use the BP compatibility pack and the official 3.7.0RC build of FSO.