Another Elder Scrolls IV Oblivion Problem

[cptpooface]

I played through the first few minutes of the game with no problems, then when I got out of the sewer, I started to get a problem. When I am in first person mode, my weapons start flashing. If I hold my shield up it flashes on and off really quick, same thing when I have my sword out. Everything else runs fine, no graphics problems or anything. I am playing an original copy, no crack or anything. I have an ati radeon 9600 with a pentium 4, 766 MB of RAM. I know its not a high end system but everything else runs well. When I am in third person everything is normal, and when I am in first person, I only have a problem with the flashing weapons, nothing else. Any help would be appreciated. I searched the forums and didn't see anything like this, so I am sorry if its been mentioned and I missed it.