same here.
Win7 x64, ATI/AMD Radeon HD4730, Catalyst 10.6 drivers.
glitch is location-specific: i just started the game but can confirm that it appears in Nasri mission in Saudi Arabia and in Taipei safehouse (unlike with first poster it's normal in Greybox and broken in Arabia, not in Arabia safehouse though).
while you in location in question - inventory AND "clearinghouse" are almost unusable (and DAMN, how it hurts my eyes).
looks like all textures are replaced with plain white and only shadows are visible upon objects.
AA or AF are not forced. i also tried to play with "MaxAnisotropy" and "MaxMultisamples" settings in APEngine.ini but it didn't helped.
please, someone, advise something and make me unsee this white crappiness
