Thanks for the advices,
well good news VDMSound can indeed run the game from the XP environment. However, I will have to mess around with the settings as I can't seem to use my Thrustmaster joystick to play the game and the sound is kind of ticking when the CD drive is used, but the game runs. I think tweaking will be the only thing I'll have to do.
Thanks again!

k:
Edit 1: After messing around a little with the setting, I think I know what's wrong. The game refuses to run unless I check the run low end MSCDEX option which cause VDMSound to detect my DVD Drive as a 1x CD-ROM!! Therefore, the game suffers from it. Any way around that problem? Btw, if I don't click on low end MSCDEX, the game starts with an error message.