Initializing OpenGL graphics device at 1024x768 with 32-bit color...
Initializing WGL...
Requested WGL Video values = R: 8, G: 8, B: 8, depth: 32, double-buffer: 1
Actual WGL Video values = R: 8, G: 8, B: 8, depth: 32, double-buffer: 1
OpenGL Vendor : ATI Technologies Inc.
OpenGL Renderer : RADEON 9200 Series DDR x86/MMX/3DNow!/SSE
OpenGL Version : 1.3.1072 WinXP Release
Using extension "GL_EXT_fog_coord".
Using extension "GL_ARB_multitexture".
Using extension "GL_ARB_texture_env_add".
Using extension "GL_ARB_texture_compression".
Using extension "GL_EXT_texture_compression_s3tc".
Using extension "GL_EXT_texture_filter_anisotropic".
Using extension "GL_ARB_texture_env_combine".
Using extension "GL_EXT_compiled_vertex_array".
Using extension "GL_EXT_draw_range_elements".
Using extension "GL_ARB_texture_mirrored_repeat".
Unable to find extension "GL_ARB_texture_non_power_of_two".
Using extension "GL_ARB_vertex_buffer_object".
Unable to find extension "GL_EXT_pixel_buffer_object".
Using extension "GL_SGIS_generate_mipmap".
Unable to find extension "GL_EXT_framebuffer_object".
Using extension "GL_EXT_texture_rectangle".
Using extension "GL_EXT_bgra".
Using extension "GL_ARB_texture_cube_map".
Using extension "GL_EXT_texture_lod_bias".
Unable to find extension "NV_point_sprite".
Unable to find extension "GL_ARB_shading_language_100".
Unable to find extension "GL_ARB_shader_objects".
Unable to find extension "GL_ARB_vertex_shader".
Unable to find extension "GL_ARB_fragment_shader".
Unable to find extension "GL_ATI_shader_texture_lod".
Found special extension function "wglSwapIntervalEXT".
Max texture units: 6 (6)
Max elements vertices: 2147483647
Max elements indices: 65535
Max texture size: 2048x2048
Can use compressed textures: YES
Texture compression available: YES
Using trilinear texture filter.
... OpenGL init is complete!
Uhhh. You should really think about updating your GPU. That thing is positively ancient, and just barely capable of the things FSO needs to work. In fact, it is missing several extensions that FSO really wants to have (Non-power of 2 textures, for example).
Also, does this work correctly on a recent nightly?