Max Payne (mouse slowdown)

I just got Max Payne. When I start the game there is a time delay between the actual mouse movement and the onscreen movement (i.e. I would move the mouse forward and 2 second later the camera view will adjust accordingly). This lag is taking away from the playing experience.
Has anyone experienced this in the past? Any ideas as to what may be causing this behavior?
My system: Asus A7V; CPU Athlon T-Bird 800 MHz; NVIDIA GForce 3 (video card); 512MB PC-133 SDRAM; 7200RPM IBM DESKSTAR (GXP-75) Hard Drive; CL Sound Blaster MP3+; Logitech ergonomic wheelman mouse.

Any and all help apreciated.
Many thanks in advance.

No, it doesn't happen with any other games. All my other games run just fine. For example, Quake3 with all the settings on high at a display resolution of 1024x768x32 with Antialiasing on constantly runs at 90FPS. This frame rate is representative of my computer's average gaming performance.
Any sugestions?
Once again, many thanks in advance.

FatBurger,
I solved the problem! I flashed my BIOS. I updated it from version 1.003 to v. 1.009 (the latest version available for the VIA KT133 chipset). After the update, the game runs silky smooth at the heightest level of detail.
FatBurger, thank you for your time and interest.

right click on desktop, advanced, ur vid card, advanced, open gl, pre-render limit 1 (default is 3, experiment, this can cause controller lag, the lower your fps, the more lag you will notice)

The first LAN party I went to was at a PETA convention. They booted me when I shot a crab in HL!