When moving the viewpoint over any significant distance it gets stuck and becomes flickery. It's impossible to bring up the main menu and the game has effectively crashed.
I have already tried forcing some graphical settings via the Nvidia Control Panel. But this doesn't seem to have done any good. But still, I might have missed something, so suggestions are welcome.
System specs:
AMD Phenom II x4 3 ghz
4GB RAM DDR2
Geforce GTX 260 896MB
Windows 7
Everything has the latest updates where applicable.
Any tips would be appreciated.

In all honesty Nemo came up with the fix after Fenixp observation with water. I simply helped connect this problem with Nemo's work around.

I wish someone would take it further though. "Solved" is too strong a word.

Don't work for me too :/
I try:
- install 1.05 patch,
- compatibility mode,
- three different drivers.
System:
- Windows 7,
- GF 9300M G (drivers: 188.xx / 190.xx / 258.xx).
Game with "no water patch" suxx :/
Please, do something with this.

Yup, I have the same problem - Win7 64bit, NVidea GeForce 9600GT.
I tried it under WinXP in a VMWare player window and it works fine (through the first two tutorial missions, anyway). Not sure whether the difference is the operating system or the emulated video card, though.

Don`t work for me too, I tried the water patch but it didn`t work.

As this issue is not resolved can we remove the "Solved" 'tag' provided to ensure GOG are working on getting this fixed. A post from GOG staff would also let us know, what can be done, if anything to resolve. Hope it can be fixed

Cheers

Windows 7 - Nvidia graphics

I just downloaded this recently and ran it under Windows 8. I was able to finish the first tutorial without any issues. All my past issues were on the same hardware with an older download under Windows 7.

Here is the fix: praetorians .me/files/mods/Praetorians-no-water-patch.rar
(There is a gap before .me cause forum doesn't allow me to post links correctly,
just delete the gap before .me for the link to work)