I have (almost) the same graphics card (MSI Ti4200) and I'm experiencing the same problems with the newest NVIDIA drivers.
Here is my hardware:
Asus A7N8X with nForce
MSI [GeForce4 Ti 4200 AGP 8x] (rev a1)
I did not experimented a lot with kernel-parameters or different versions of the NVIDIA module.
If you need some more informatie, please ask.