I tried Zeos's cache data and image but my 4850 didn't crash.
The same for me, I tried the cache and ran around for some time. Nothing happened with UFO; truck flickered wildly but otherwise no crash.
That makes me wonder - Zeos, can you check the loaded modules in your eng.log? Is Fraps listed there? Fraps and similar software hook into other apps and intercept messages, it could be that it interferes somehow even if not used. Or maybe there's another utility ...
Btw, I saw something interesting: i went up in the space and i spawned the cessna. Besides some lighting issues, the model flickered a lot. I then moved the outside camera to look top-down and i saw that the flicker was actually the plane moving back and forth from the right position to, i'd say, ~100 meters below.
Thanks for reporting, it ultimately helped to identify the cause of object flickering, appearing on all vehicles. It was fixed internally.