Could be a GFX card issue.
I found this on another website, link >
here<
Quote:
Hi all,
The Regiment just arrived with my mail this afternoon. After installing the game and patch I was getting a Critical Error: No Delta Time when I attempted to launch the application. I did a Google search and found a fix for the problem. Right click on your shortcut,select properties, then select compatability. Change your compatability mode to Win98 and everything should run as expected. I run WinXP Home Edition with Service Pack 2. Hope this is helpful to anyone else experiencing the same problem.
DD, Rgr out
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If that don't work, maybe the launcher mentioned in that link could help.