SP1 Aircraft Models Corrupt

Hi All,
This is my first post so please accept my apologies in advance if this problem has been covered elsewhere.
I'm new to FSX and was pretty happy with performance on my system (rough specs below) until I applied SP1. Since doing so the aircraft models have become corrupted so that odd elements can appear anywhere e.g. tyres hovering above the cockpit or wings on at a 90 degreee angle. This has happened to all of the default aircraft that ship with FSX Deluxe. In addition performance seems to have taken a real hit.
I'm running XP Pro SP2 on an overcocked quad-core with an 8800GTS running at stock speeds.
I've performed a complete re-install of FSX and everything is again fine until I apply SP1.
Can anybody help?
This is my first post so please accept my apologies in advance if this problem has been covered elsewhere.
I'm new to FSX and was pretty happy with performance on my system (rough specs below) until I applied SP1. Since doing so the aircraft models have become corrupted so that odd elements can appear anywhere e.g. tyres hovering above the cockpit or wings on at a 90 degreee angle. This has happened to all of the default aircraft that ship with FSX Deluxe. In addition performance seems to have taken a real hit.
I'm running XP Pro SP2 on an overcocked quad-core with an 8800GTS running at stock speeds.
I've performed a complete re-install of FSX and everything is again fine until I apply SP1.
Can anybody help?