I've been suffering with this error and thanks to terrytibbs010 It has been solved.
1, goto start menu, my documents, my games folder
2, open the far cry 3 folder and right click 'gamer profile' and open in note pad.
3 click edit and then find
4, in the search box type 'd3d'
5, you should then have UseD3D11="1"
6, change the 1 to a zero
7, click file then save.
open uplay and the game should launch. I've changed this back to a 1 and the game wont launch, so this definitley fixes this.
I get the exact same issue where I cannot launch the game past first flash screen. I do not even have a Gamer Profile to modify as the game has never launched. Yes I opened a "question" on the support page and I am very supprised to see that there are only 6 answers on the support page and all of them are for people who can launch the game. I hope where I bought it gives opened refunds.
I have almost the exact same issue as BakRaal, I crash apparently before a Gamer Profile can ever even be created. I actually had a friend send me his so I could try what OP suggested, but all that did for me was cause my non-responding black screen to full-screen.