Not sure what to think anymore, but I've been at it since release today to try and get this piece of ☺☺☺☺ to work...
tried everything suggested related to the issue from gamespot.com bioshock forum, steam user forum, and 2k bioshock techinical forum...nothing.

Seeing how there are many people with the same problem, it makes us beg the question, where is 2k staff in all of this mess? Not a SINGLE GOD DAMN OFFICIAL RESPONSE ABOUT THIS PROBLEM, NONE. In no way am I exaggerating when I say this, I have never encountered a game that wont' even start after looking into related forums.

Yes, I've tried resinalling the game, yes I've tried downloading newest directX, yes I've had the newest god damn Nvidia driver in my system...
I've tried flagging the shortcut with "-dx9", tried getting rid of the SeCROM, tried every god damn thing there is to try, nothing has worked.

I have computer that should run this without a problem:
Vista 32-bit
Directx 10
dual 8800GTX
2g ram
E6700 intel quod core
purchased bioshock through steam.

And instead, I get a day full of frustration.