Did you get any response? I get the same problem, same game. Which I do enjoy when it lets me.
Full message; Direct3DDevice:: Present failed: Driver internal error (-2005530585)
Processor Intel E6600 (meets min. specs for Black Ops) 2.4GHZ
Video Card Radeon HD5870
Windows XP Pro sp3
2GB DDR2 RAM
I've been playing this game since release (encountering the expected stutters and such as everybody else) and have only had this problem for the last two days and it's frustrating the heck out of me. I've updated all drivers, re-installed directX, steam cache defrag, config file fixes listed at FAQ's, tried running in windowed mode, downgraded the sound hardware acceleration, pretty much any fix listed online I have tried.