Apparently it is possible. Here's the tale of a guy who
wrestled the game onto his computer. I don't know if this will work for you, but the only thing you have to risk is wasting 10 minutes trying it.
1. He changed the screen resolution to 640 x 480. The game installed. (He also said he used 8-bit color, but depending on your SP or video card it may only be possible to go 16-bit color. Try that if the install doesn't work on 32-bit.)
2. He set the game options to 800 x 600
3. He then played in compatibility mode for Windows 98/ME.
Seems like a lot of trouble for a game. Just be thankful it's not Vista.