Didn't help in my case - even had AA completely off!
(And it was only the white font that was flickering, not the whole screen, btw.)
I'm running the game windowed now, with tweaked ini to get something like 1260x1006 resolution. A little bit of try-an'-error with the driver setting gave me at least a managable speed / mouse pointer lag in windowed mode, so I'm barely able to play :/
Btw., Aaron told me to pester Strategy First for an update (might be is a DirectX-problem with driver tailored for newer hardware and Vista/W7).
Yet, it's impossible to issue a support incidient with them, as their web form does not work, and the web admin didn't react to email for over a month now.