I know this thread is old but i felt the need to post this info somewhere. I have seen nothing but never ending posts online about issue with the HD4650 AGP. Especially in Windows 7. I tried everything and anything over the span of 4 hours. From running a bare bones, setup to putting in a behemoth PSU and updating every driver possible on my system with no luck. Ive tried almost every catalyst package out there. Even the latest 11.6 Hotfix for all AGP cards failed giving me a BSOD. Never once would Catalyst actually install the HD4650 drivers. And alot of the times it would not install the catalyst control center either. Was always stuck with "Standard Display Adapter" in the device menu. Ive tried every possible fix and suggestion out there with no results. My final working result came from looking at trouble shooting posts on many message boards with just AGP cards in general. And dont quote me on this but a poster mentioned legacy support ended in Catalyst 10.12. Then i heard someone else say the manufacturer of their card told them to use catalyst 10.12. I was game so i tried yet another suite and failed miserably yet again with no results. Would not install the drivers period.

I tried one last thing. and heres what works. Run 10.12 catalyst and after it extracts to the temp dir then quite the installation. Head over to device manager and goto your adapter and choose update driver software. Then choose "browse my computer for software" Then use the option "Let me pick the drivers" followed by "Have Disk" option.

Then direct it to this file. C:\ATI\Support\10-12_vista32_win7_32_dd_ccc_ocl\Packages\drivers\Display\W7_INF\CL109808.inf Then scroll down the video cards listed until you get to the very first hd 4650 listing and choose that one. Then install anyways when windows says it might not work. Re boot and now the driver is in place and listed as a HD 4650 and displaying proper resolution etc. There another INF file below that one but i never even had to use it or even try it.

Now thats done grab that latest 11.6 Hotfix for all Radeon AGP cards from AMD. Extract and install but when installing YOU MUST CHOOSE "CUSTOM" install. Then make sure you deselect "Install drivers" (you already have one that works). Basically just install the control center ONLY. If you install driver it messes it up again. When finished reboot. And now you have a working 11.6 catalyst control center for your hd 4650 in windows 7.

Ive only posted this because info is REALLY limited out there for these cards and there issues. Ive seen where people have returned the card. I did not wanna go that route so i didnt give up and i really hope this can help some people.
Sorry its not more detailed but im not into writing up stuff. I only signed up to post this info only. But for a few details of my specific situation is as follows.
MSI Board, Intel Chipset, AGP x8, 550 watt PSU and Windows 7 Ultimate 32 bit edition. I dont know if this will work on the 64 bit edition but this definitely worked for the 32 bit edition.