More information would help so, can I just clarify what you are saying. If you edit a clip that previously rendered succesfully, now the same clip when rendered (produced) results in a file with audio only and just a blank screen when you play it back?
Have you tried an alternative way to playback the file, VLC for instance?
When you are on the edit screen, do you see the video in your preview window and only find it missing after it is rendered?
What file format are you selecting when you render (produce) the video?
Does the unedited video clip play back normally?
A screenshot of your edit and produce screens might be useful together with the dxdiag.exe output from your system.
One last thought, if you know exactly when this happened it might be worth trying a system restore back to just before any recent change.