I know a lot of people are getting really frustrated with the whole bioshock.exe has stopped responding issue. However I have a fix (That worked for me anyway) that only applies to those running an ASUS machine. I myself am running a G1S notebook.
If you are running the ASUS utilities Direct Console and Multiframe, turn them off and see if the game load gets any farther, I disabled mine after noticing that the game would run when one of the utilities crashed on bootup of the machine. For a safer bet turn off all of the utilities.
I know that this will probably only affect a very very very small percentage of bioshock gamers but to those on other machines I would make the suggestion that you should try disabling any non-essential applications running in the background and see if they allow the program to run properly, it seems that the slightest thing can affect the game while it loads.
Any questions and I'll help best I can. Best of luck to you all in finding a working fix!