So far I have tried the following steps, none of which worked:
-Run in administrator mode (duh)
-Run with various compatibility / os settings
-Installed DirectX9.0c June 2010 Redistribution
-Installed DX9 through web installer
-Restarted system (Several times)
-Installed K-Lite Codec pack
-Uninstalled K-Lite Codec pack
-Installed RAD Video Tools (Bink SDK)
-Reinstalled game 3 or 4 times (after completely uninstalling it)
-Changed CPU affinity / priority while task was running.
-Changed settings: V-sync on / off, window mode on / off
EDIT: In ig2.settings, appears a line: "Mobile style side bars", so it seems like this is INDEED the re-port back to PC from Android version.... GAH!
Upon suggestion from Gog support, I updated my (Nvidia) graphic card driver and it worked! The game is running now here.