Mugen 1.1 crashes due to failure to init graphics

[IDGCaptainRussia]

Mugen 1.1 crashes due to failure to init graphics

LOG:

 

Error detected.

Clipboard tail:
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M.U.G.E.N ver 1.10 (2012.08.31) status log
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Parsing command line...
Command line: D:\Mugen.exe
Parse command line OK
Initializing...
Allocating game variables
Reading configuration file...Setting language "en".
OK
Initializing timer...performance timer enabled...frequency 2825497...OK
Initializing keyboard...configuring...OK
Initializing input engine...OK
Initializing sound...OK
Initializing BGM...  OK
Initializing graphics...gameCoord 1280x720...render mode 2_4...trying 1280x720x32 mode 0x0...failed. 

 

Yeah, I've googled this error and can't find a good fix (setting the graphics to system causes MAJOR slowdowns), I was able to run it just fine yesterday and now I get this error whenever I try to start the game with the same settings as before.

 

Why am I getting this all of a sudden?