I never understood that either -- no such checkbox exists with GF2 cards on ANY drivers that I've tried. That aside, I would suggest the 10.80 (or 11.01) nvidia reference drivers available from any number of sites (www.geforcefaq.com has a bunch of download sites listed in the "drivers" section.)
I am currently using the 10.80's and have good stability and speed with Maya, but I've read that the 11.01's are also good or perhaps better. On a side note, Houdini runs MUCH better with the 10.80's compared to all the other drivers I've tried -- it's a night and day difference.
As far as the settings go, I just use the default settings for OpenGL. There is a file in the "tools" section of highend3d called "overlay enabler" that you may want to try as well -- many people report dramatic improvements with it. Be aware, however, that this setting will be disabled just by going into the 10.80 OpenGL properties page and hitting Apply or Okay -- you'll need to reapply the enabler if you do this.
Larry