I gave up on using my older games on my newer machine, even after dumbing  it up with the play the game in the older windows option. Best bet find and older machine at a swap meet, flea market. I use 2 older computers a 1999 dell (was my moms she upgraded about a year ago windows 2000) and a 2004 HP windows XP. All the Janes, MIG Alley, similar games I run on the Dell, all the SFP1 family, LOMAC, PAC Fighters, IL2, Microsoft's sims, etc I use the HP. Seriously if your PC could talk, I'm sure it would be saying somthing like what the "F" is this? Tasts like SH!T, what are you feeding me? Whats the experation date on this crap? 
  
  
Also check your task manager see what programs are running when you are playing/not playing could have some background stuff mucking up the works that you could shut down. Look for a patch people have written patches for newer windows O.S., user beware though the patch may be specific to a certain type of PC/model/video card etc. Disconnect from the internet, unplug your PC from the internet shut all anti virus and windows fire wall off. Anti virus' and fire walls can affect older software that was written before AVs existed. Some anti virus' dig in deep and want to watch over everything. Then scan disk defrag. Try that. If that doesn't work go old school. Just noticed that you have the speech at the top of the screen shut that off, christ that could be the problem right there.