GAMES:Master of Magic
Works fine, however you might consider disabling the music to improve performance. Choose Game -> Settings and uncheck Background music and Event music. If that doesn't help, try running installation program and choosing No Sound for music playback device.
The game runs at standard VGA resolution and being a turn-based strategy, doesn't really require lots of horsepower. However, you may want to speed up its execution by trying out the following:
enable frameskip -- values of 1 or 2 should be perfectly acceptable.
disable Expanding Help option under Game -> Settings
disable Movement Animations option under Game -> Settings
There is no multiplayer support built into the game (if there was some, I would never look at anything else in my life ;).
There is a standalone tool called Multiplayer Shell (shareware), but this remains untested.
Remember that the game is poorly written. Even with the latest patch (1.31) it may unexpectedly crash.
Furthermore, the game may slow all by itself if there are many units on the map. This may lead to the game being unstable, so if you encounter such condition try killing enemy units (massively) and saving often. the game saves your progress by itself every turn, upon pressing the Next turn button. You can force it to save anytime however by pushing the F10 button.