Just spent the past hour and a half trying to get this game to run on Steam.
Decided to go to Steam forums; found this little tidbit after about an hour of searching: Have you tried to change the render device?
Render Device has two options, both reading the same. I just chose the other one and it finally started.
What a headache! Seems like a lot of people have had issue trying to get this game to start but no one posted an answer on how to get it to run. And it looks like even more people have had more issues with the game when it's working.
Hopefully I'll get around to starting it tomorrow.