I just got the error for the first time, after turning OFF the option to use "Windowed Mode." Since I run multiple monitors, I like to use Windowed Mode (Maximized) so that I can move the mouse over to the other monitor to do other stuff (such as what I'm doing now). I turned that mode off so I could record the game with FRAPS and about an hour later, bang... closed with the error.

In Windowed Mode with the window maximized, I can run at full resolution with all effects at max and no issues whatsoever.