I have a 4200 and found newer drivers at guru3d.com -
http://download.guru3d.com/detonator/
Get the 43.51 drivers - they are even WHQL certified. Also get DirectX 9.0a (9.0a, not just 9.0).
With the above, Freelancer never crashes. But if I ALT-TAB out of Freelancer to windows, then the screen gets all screwed up and LOOKS like the PC hung. But it did not! You can see the mouse. Move the mouse to where you think you probably have an empty desktop. To this:
Right-Click, UP Arrow, ENTER (this opens Properties)
SHIFT-TAB, RIGHT Arrow, RIGHT Arrow, RIGHT Arrow, RIGHT Arrow (this moves you to the display settings)
ALT-S, LEFT Arrow, ALT-A
Now the screen will come back and ask you if you want to switch resolutions. Say No. You can also try ALT-S, RIGHT Arrow, ALT-A, id you were already at the lowest resolution.
Now the screen is back, and you now switch back and forth between the game and windows without any problems. (Works for me anyway).