Hy Jim 22378!
I have Might and Magic VII. When I installed this program to my computer I have the same problem. Try this:
Right click the Might and Magic VII icon on your desktop. Click on Properties. Next click on compatible. Then you have to change the compatible to Windows NT 4.0 (Service Pack 5.)
Then click on Start/Programs/3DO/Might and Magic VII/Might and Magic VII Configuration Utility. You change:
Window: Fullscreen, and Video: Software 3D.
Then launch Might and Magic.
Good Luck!