Currently Being ModeratedJan 16, 2013 6:24 AM (in response to White Skunk)
"Selected Driver not found. (-10202)."
That is an error message, that the core audio driver is set to a driver, that does not exist or cannot be found.
Your GarageBand preferences may be still pointing to an old audio interface from your old GarageBand version. I'd try HangTime's fixes for "oddball problems" first, i.e. delete GB's preferences and repairing permissions on your computer, as described in the FAQ:
P.S. Are you using other audio software besides GB? Logic, MainStage? Then check the Audio preference settings in these programs as well.