I was finally able to get this game to work, here is what I did:
First of all, if you install the patch you must crack the game with a no cd patch even though you have a legitimate copy. If you get the error that the game is not compatible with NT then this is what you need to do. Search for a patch on google.
Now I didn't get the error, but the game crashed whenever I tried to run it. I almost gave up till i stumbled on this by accident, If I have my MS sidewinder gamepad (the version that connects to the gameport) installed then I cannot play, but if i remove the controller, the game works great...this sucks of course because I like racing games with my gamepad.
If anyone is still looking to get this game running i hope this can help
this was observed with a Nforce2 MB in Win2k, DirectX 9.0a, Geforce3 ti 200 with 43.45 Dets