Hi,
Indeed it could also be the new Nvidia drivers. After some reading/searching the net I encountered more problems
that showed up after installing newer Nvidia drivers. To test it you could go back a version.
Another thing, that might seem odd, is to check punkbuster. Strange indeed, but In my case it prevented MOH from
from running and I have seen punkbuster named as the source of the problem for BFBC2 too.
Now that I think of it, I tried updating punkbuster after trying to reinstall vc++.
you can download pbsetup here: http://www.evenbalance.com/?page=pbsetup.php
After downloading, upzip the file and run the program. Add BFBC2 as game and check for updates.
This goes pretty fast so this can be done in 1-2 minutes.
Sometimes it's just trial and error when it comes to computers.