Frame rate locking did not help in the long run. I just got lucky that time.
The root of the problem seems to be with Windows Vista not playing nice with NVIDIA cards. It’s a problem that has been known about since at least January 2007. Why Vista? I can only speculate that it’s because Vista sucks, but that’s not a new sentiment by any stretch.
NVIDIA has a page listing some Vista hotfixes (note: they’re not for XP…). The first time I tried to play TF2 following hotfix installation, I locked up less than 10 paces outside the spawn doors.
All of this makes me loathe to play TF2, especially for the CEVO tourney. I’ve been lucky thus far, or maybe it’s because 6v6 matches don’t place too much stress on the laptop Vista, but I’m pretty sure that were I to lock up for at least 30 seconds, any momentum the team might have built would be erased in an instant.

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[...] been running ForceWare 169.06 for about a week now, and TF2 no longer crashes. At all. Looks like NVIDIA has made significant progress in stabilizing the 8600GT for Vista, [...]