First thing I would try is a clean boot:
Msconfig for Windows XP:
To Boot Clean in Windows XP
1. Click Start --> Run --> Type MSCONFIG --> Click OK
2. On the General tab, choose Selective Startup
3. Uncheck Process SYSTEM.INI file
4. Uncheck Process WIN.INI file
5. Uncheck Load Startup Items
6. Click on the Services tab
7. At the bottom, check Hide All Microsoft Services
8. Uncheck all boxes in the window or click the button labeled Disable All
6. Click OK
7. Click Restart
8. After reboot, run the game to see if it works.
After performing the necessary steps, restore your system by doing the following:
1. Click Start --> Run --> Type MSCONFIG--> Click OK
2. On the General tab, choose Normal Startup
3. Click OK
4. Click YES, when asked to restart your computer
Based on
Will's post
If that doesn't help, I would try updating some drivers. Acer doesn't seem to offer recent versions, therefore you could try the official ones:
Audio:
Realtek HDA
Video: Sadly there is no newer one from Intel