Black Screen HDTV fix
I found a solution that worked for me after countless hours of searching the web for a fix, OK what I did was install steam on my laptop and install Psychonauts then run the game and start a new game, I changed the games resolution the 640x480 @60htz then close the game go into Psychonauts folder copy the displaysettings file to a memory stick and paste this into the Psychonauts folder on my Desktop PC and huzzah it worked, I could then change the resolution to 1920x1080. I tried ALOT of fixes like reinstaling drivers, os, and creating a displaysetting file messing with the registry which none worked. But I am soo glad I can finally play this game because its AMAZING better that alot of modern games I have played. I really hope that this fix will work for you if you have a HDTV like me. One last thing you might want to change the compatibility to XP3, I am on win7 and before I did this the game crashed quite alot during loading screens.