Keep in mind VDM is only a sound related issue.
I have run SPMBT and SPWW2 and SP3 all in XP with a standard no weird fuss install on an XP machine. I had to go into the games ini file and manually adjust the mouse settings (SP Cammo explains how to do this on their Windows fix page), but it fixed the problem of a mouse being a pain in SPMBT and SPWW2. The fix doesn't appear relevant to SP3 though.
I was able to set up sound through the games own actual sound set up fine though.
Thus far, my only beef is on game exit, my screen goes to hell scrambled. No major burden though, I hit reset button, wait till reboot and go back to whatever it was I was planning to do after quitting the game.
SP1 might be no different, as it is basically the same environment as SPMBT or SP3.