Originally Posted by imSmoove 
I guess what I'm asking is can someone give me a step by step, detailed guide to what I need to do in order to get this game running.
I do not have the time at the moment, but the emulator to run DOS games in is
DOSBox.
Arcanoix guide 5 posts above yours give you the basics.
To understand how DOS or DOSBox works, check the DOSBox website.
That said; I initiated this thread after testing the game in Win7 64-bit, DOSBox, VMWare and Virtual PC. That's four different environments, and I still got the black-boxes issue described in the first post, which seems to be a nvidia problem.