Found this thread and figured i'd revive it. I have the exact same issue here. System specs:
Windows XP SP 2
Pentium 4 2.53 Ghz
768 MB of RAM
ATI Radeon 9800 Pro
Soundblaster Live! Audio [8400]
I've tried both Dosbox and VDMSound. I can run the game perfectly. Hell I can run it perfectly without using any of those. Gameplay, FMV's, everything works flawlessly on all three methods. It's just that I have no sound at all, doesn't matter which method I use. I mean common, if I could at least get it to where the sound would skip and stutter, that'd be fine. I just want some sound dangit!