I had the same problem, and tried everything ... which didn't work. Then I did a very un-manly thing and read the readme file. It said the gaim wouldn't run with dual video card configurations. I was running crossfire. I disabled crossfire and it loaded and ran as it should. If you're running SLI or Crossfire, try disabling it.
I have Vista 64bit with Ageia PhysX and nVidia Physx install at the same time, I knew MOHA worked on it because I had it working before. So i uninstall nVidia Physx and reboot the computer and tried again and then it worked, I would keep Agia Physx on there though, just make sure you don't have two different Physx software clashing together.
i had exactly the same problem on xp pro, i found it was the ageia/nvidia driver clash, go to; control panel, then go to; add or remove programs, then search for any nvidia driver program & uninstall, then try to run the install again for airbourne...worked for me
It has something to do with the version of physx that that particular game likes to FORCE you to install. Uninstall the physx driver from the control panel. Reboot and then try and install the game. If all goes good you can update the newest physx driver from nvidia's site after the game is installed.