open gl problem ?

I'm new to all this but I seem not to be able to play any games on my pc? I installed quake III on my pc and it installs but when I try to launch the game it says that.. GLW_StartOpenGL() - could not load OpenGL subsystem: I'm using a MagicVideo M64 TNT2 card (Optimized Direct3D and OpenGL acceleration/Complete DirectX 5.0, 6.x and OpenGL support)with updated drivers on a Compaq EZ2605 w/ win98. Any ideas why I can't play? Below is the actual print out I get.
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C:\Program Files\Quake III Arena\baseq3\pak0.pk3 (3539 files)
C:\Program Files\Quake III Arena/baseq3
C:\Program Files\Quake III Arena\baseq3/baseq3

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execing default.cfg
execing q3config.cfg
couldn't exec autoexec.cfg
...detecting CPU, found Intel Pentium III

------- Input Initialization -------
Initializing DirectInput...
Couldn't set DI coop level
Falling back to Win32 mouse support...
Joystick is not active.
------------------------------------
----- Client Initialization -----
----- Initializing Renderer ----
-------------------------------
----- Client Initialization Complete -----
--- Common Initialization Complete ---
Winsock Initialized
Opening IP socket: localhost:27960
Hostname: computer
IP: 127.0.0.1
WARNING: IPX_Socket: socket: NO ERROR
Working directory: C:\Program Files\Quake III Arena
fs_cdpath is write protected.
----- R_Init -----
Initializing OpenGL subsystem
...initializing QGL
...calling LoadLibrary( 'C:\WINDOWS\SYSTEM\opengl32.dll' ): succeeded
...setting mode 3: 640 480 FS
...using desktop display depth of 32
...calling CDS: ok
...registered window class
...created window@0,0 (640x480)
Initializing OpenGL driver
...getting DC: succeeded
...GLW_ChoosePFD( 32, 24, 8 )
...23 PFDs found
...GLW_ChoosePFD failed
...GLW_ChoosePFD( 32, 24, 0 )
...23 PFDs found
...GLW_ChoosePFD failed
...failed to find an appropriate PIXELFORMAT
...restoring display settings
...WARNING: could not set the given mode (3)
...setting mode 3: 640 480 FS
...using colorsbits of 16
...calling CDS: ok
...created window@0,0 (640x480)
Initializing OpenGL driver
...getting DC: succeeded
...GLW_ChoosePFD( 16, 16, 0 )
...23 PFDs found
...GLW_ChoosePFD failed
...GLW_ChoosePFD( 16, 16, 0 )
...23 PFDs found
...GLW_ChoosePFD failed
...failed to find an appropriate PIXELFORMAT
...restoring display settings
...WARNING: could not set the given mode (3)
...shutting down QGL
...unloading OpenGL DLL
...assuming '3dfxvgl' is a standalone driver
...initializing QGL
...WARNING: missing Glide installation, assuming no 3Dfx available
...shutting down QGL
----- CL_Shutdown -----
RE_Shutdown( 1 )
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GLW_StartOpenGL() - could not load OpenGL subsystem
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