Hmm...

The missing Multitexturing Capablity might break its neck there.

Really far shot, but you could try running the Voodoo3 1.03.00 Driver, or only its Direct3D Core (if it works, don't know), together with 3D Analyzer (using the "Emulate Max. Sim. Textures" Switch).

That way, you'd have the "right" Direct3D Core .dll running, and have 3D Analyzer possibly take care of the Multitexturing Problem.

The Emulate Max. Sim. Textures used to enable 4-layer Multitexturing capability, regardless of Driver used. It won't render them, but it might to the trick.
I just don't know if that info is still valid, since my experiences are from older Versions.