Joining the party...
I am having the EXACT same issue, PLUS my Wacon PTZ-430 only works for a fewminutes then, when the Open GL craps out, so does it... but only certain aspects. The cursor still moves, it just will not paint. Mouse will (direct via USB) but the tablet won't. If I delete CS4 prefs, then the Wacom works fine... for a while.

From DXDiag:
System Information
------------------
Time of this report: 12/8/2008, 15:37:52
Machine name: VM-EDITING
Operating System: Windows XP Professional (5.1, Build 2600) Service Pack 3 (2600.xpsp_sp3_gdr.080814-1236)
Language: English (Regional Setting: English)
System Manufacturer: VELOCI
System Model: 122-CK-NF68
BIOS: Phoenix - AwardBIOS v6.00PG
Processor: Intel(R) Core(TM)2 Duo CPU E6850 @ 3.00GHz (2 CPUs) Memory: 2814MB RAM
Page File: 1049MB used, 3652MB available
Windows Dir: C:\WINDOWS
DirectX Version: DirectX 9.0c (4.09.0000.0904)
Dual Monitor:
NVIDIA GeForce 8600 GT
Manufacturer: NVIDIA
Chip type: GeForce 8600 GT
DAC type: Integrated RAMDAC
Device Key: Enum\PCI\VEN_10DE&DEV_0402&SUBSYS_043910DE&REV_A 1 Display Memory: 256.0 MB
Current Mode: 1920 x 1200 (32 bit) (60Hz)
Monitor: Plug and Play Monitor
Monitor Max Res: 1600,1200
Driver Name: nv4_disp.dll
Driver Version: 6.14.0011.7824 (English)
DDI Version: 9 (or higher)
Second:
Card name: NVIDIA GeForce 8600 GT
Manufacturer: NVIDIA
Chip type: GeForce 8600 GT
DAC type: Integrated RAMDAC
Device Key: Enum\PCI\VEN_10DE&DEV_0402&SUBSYS_043910DE&REV_A 1 Display Memory: 256.0 MB
Current Mode: 1280 x 1024 (32 bit) (60Hz)
Monitor: Plug and Play Monitor
Monitor Max Res: 1600,1200
Driver Name: nv4_disp.dll
Driver Version: 6.14.0011.7824 (English)
DDI Version: 9 (or higher)

George_A_Abraham

Replied in the following topics

CS4 OpenGL stops working after a few minutes of painting