Doesn't this game rely on paletted texturing?

what happens nowdays if you run a game that relies on palleted textures on new hardware

It works on certain drivers. When I had a 8800GTX one driver from the 19x.xx series could run it, as well as drivers from early 2007 and older (my 6800 had no problems running it, as it also relied on these drivers). At this point when the game crashes, there is no 2D/3D mode change and it stays the same until a new race is started, but it crashes before the main menu shows up. I assume these cards can't do palleted textures either.

I thought that if a game uses palleted textures the drivers convert them to 32bit ?
is there another game that uses palleted textures and has a profile, try renaming the exe so the profile is applied to jet moto

while searching for jet moto windows 7 i found this bit of advice
open the cd and right click jetmoto.exe and set compatibility to XP SP3 then run it directly from the cd drive. no need to install.

I'm on Windows XP SP3, not 7. But I don't think it's something related to Palleted Textures, because crash happens at a point where there everything is pure 2D and even if I run it in DirectDraw only.