I have a similar problem on Windows, using the latest CVS (and most likely this happens with vanilla 0.63 too). I had the exact same problem with a version I had downloaded from an Abandonware site back on 0.63 and now with the CD version I dug up I get the same thing. The damn thing won't even start in Dynamic mode.
I do remember this game being a real bitch to run in real DOS mode too.
Well i'll try a few more things like turning off the sound.
EDIT: turning off sound makes no difference, and it locks up after exactly one minute too. Seems like a DOSBOX "problem" - the game seems to be real picky.