Creating GL context: Failed - Help!! I cant play Quake 3 anymore!!

For some reason, I cant run Quake 3 Arena on my pc any more. I installed XP onto my system 6 or 7 months ago, and I had some small installation problems, but after reinstalling it was playing fine. A couple of weeks ago, I updated my Nvidia GEForce 2 64Mg 440MMX drivers, and it seems that the problem began then.
Ive tried to search for my exact problem/solution but I cant find it! PLEASE HELP!!
My error message is as below: -

Q3 1.32 win-x86 Oct 7 2002
----- FS_Startup -----
Current search path:
C:\Program Files\Quake III Arena\baseq3\pak8.pk3 (9 files)
C:\Program Files\Quake III Arena\baseq3\pak7.pk3 (4 files)
C:\Program Files\Quake III Arena\baseq3\pak6.pk3 (64 files)
C:\Program Files\Quake III Arena\baseq3\pak5.pk3 (7 files)
C:\Program Files\Quake III Arena\baseq3\pak4.pk3 (272 files)
C:\Program Files\Quake III Arena\baseq3\pak3.pk3 (4 files)
C:\Program Files\Quake III Arena\baseq3\pak2.pk3 (148 files)
C:\Program Files\Quake III Arena\baseq3\pak1.pk3 (26 files)
C:\Program Files\Quake III Arena\baseq3\pak0.pk3 (3539 files)
C:\Program Files\Quake III Arena/baseq3

4073 files in pk3 files
execing default.cfg
execing q3config.cfg
couldn’t exec autoexec.cfg
Hunk_Clear: reset the hunk ok
…detecting CPU, found Intel Pentium III

------- Input Initialization -------
No window for DirectInput mouse init, delaying
Joystick is not active.

----- Client Initialization -----
----- Initializing Renderer ----

----- Client Initialization Complete -----
----- R_Init -----
Initializing OpenGL subsystem
…initializing QGL
…calling LoadLibrary( ‘C:\WINDOWS\System32\opengl32.dll’ ): succeeded
…setting mode 3: 640 480 FS
…using desktop display depth of 32
…calling CDS: ok
…registered window class
…created window@0,0 (640x480)
Initializing OpenGL driver
…getting DC: succeeded
…GLW_ChoosePFD( 32, 24, 8 )
…0 PFDs found
…GLW_ChoosePFD failed
…GLW_ChoosePFD( 32, 24, 0 )
…0 PFDs found
…MCD acceleration found
…PIXELFORMAT 1 selected
…creating GL context: failed
…failed to find an appropriate PIXELFORMAT
…restoring display settings
…WARNING: could not set the given mode (3)
…setting mode 3: 640 480 FS
…using colorsbits of 16
…calling CDS: ok
…created window@0,0 (640x480)
Initializing OpenGL driver
…getting DC: succeeded
----- CL_Shutdown -----
RE_Shutdown( 1 )
Shutting down OpenGL subsystem
…wglMakeCurrent( NULL, NULL ): failed
…releasing DC: success
…destroying window
…resetting display
…shutting down QGL
…unloading OpenGL DLL

Q_strncpyz: NULL src