[compiz] compiz 0.7 error "No GLXFBConfig for default depth"

[Frederik Himpe]

Since upgrading to compiz 0.7, it does not start anymore on my x86_64 
system, with the error message
compiz (core) - Fatal: No GLXFBConfig for default depth, this isn't going 
to work.
compiz (core) - Error: Failed to manage screen: 0
compiz (core) - Fatal: No manageable screens found on display :0.0

I am using an nvidia graphics card with nvidia 169.09 driver. xorg.conf 
and Xorg.0.log can be found in this report:

http://qa.mandriva.com/show_bug.cgi?id=38064

What could be wrong?

Compiz 0.6.2 was working perfectly fine on this setup.

-- 
Frederik Himpe