So I got HL2 through Steam this morning, but it's having major problems running. Here's a couple examples:
The loading screen. Notice the missing textures and wire frame

In-game. As I move my view, you can see the repeating tetures and (again) a bunch of wire frame stuff showing

I updated my video drivers to Nvidia's latest (6693) as well as DirectX to 9.0c this morning. Oddly, it played fine for about 1/2 hour up until this point, then it all went to hell.
Any ideas where I should start troubleshooting? Did I get a corrupted download, or do you think something is just out of whack with my system?
P.S. I tried a couple other 3d games (Etherlords 2 and Neverwinter Nights), and they both ran just fine.