The primary problem is directx crashing as a result of your display driver misbehaving, the reason safe mode and no driver mode work is because you're not using the gpu/aero/dx. You might even have a dodgy directx install.
Is your card overclocked? Do you run any software with an overlay that hooks into the driver like steam/fraps/afterburner? Sometimes AV will also interfere with these things too, and of course we can't rule out hardware failure either (could be the gpu or the mobo).