Ran into the same problem with latest viewer. Had to go back to an old Second Life_3_7_16_294015_i686_Setup that I had. That version seems to be running just fine outside of a self made gitch with the water settings that happened due to me adjusting Debug settings in my viewer at the time. I no longer get reflections in SL water the way I used to with basic shaders enabled.
Stats for my old laptop computer to help the search.
Dell Model Inspiron INSP1440
Processors are Pentium ® Dual-Core CPU T4400 @ 2.20GHz
64- bit Operating System.
Display adapters is a Mobile Intel® 4 sSeries Express Chipset Family