Here are some pics:
 
Alien
http://img207.imageshack.us/my.php?image=aliensv5.jpg
 
Predator
http://img220.imageshack.us/my.php?image=predatorph1.jpg
 
Marine
http://img215.imageshack.us/my.php?image=marine1wo6.jpg
 
...which becomes like this after moving the mouse around
http://img216.imageshack.us/my.php?image=marine2dc9.jpg

I have the exact same problems....
Well to begin with I had a few loading problems (game took over 4 minutes to load) But this was fixed when I re-named the exe. Now when I go into a game the loading screan is waiting for me
 
But after fixing that load issues, I'm left with what you have described aboce...oh and I cannot skip the end credits upon leaving the game, infact the only way I can leave the game is by calling up task manager to close it down (Alt+F4 doesn't work)
 
 
I believe the problems in game to be a direct X related problem as AvP requires Direct X 6 which is very old conpaired to Direct X 9 and so its causing problems.
I did have another old game which had problems with new Direct X drivers. (Carmageddon TDR 2000)
I got around the problems with that by using software render.
 
 
 
As for AvP, I still havn't found a solution but then again I did only install it 5 minutes ago
 

Oh and another reason why I believe this to be related to direct X, after playing, well trying to play the game it'll create a new log file in its main directory called "direct x error", and that basically says that it can't work with the current direct X driver which for me is 9

I have the exact same problem (seen the screenshots). Has anybody found a solution to this problem?
 
I've found people referring to such problems coming from nvidia drivers ( http://forums.nvidia.com/lofiversion/index.php?t9382.html)