Right fixed this, sort of...

The game boots up and runs the opening video fine (as I have Indeo installed), even though there's an error in the Event Viewer saying "The file could not be processed by the application D:\Games\f199\F199.exe because it requires Indeo® Decoders of type IV32".

If you then exit the video it crashes, and the Event Viewer blames mcicda.dll, which apparently controls the analogue playback of CD music.

So here's how to get the game to work, albeit without CD music...

1. Install full version including video (about 260MB).
2. Download a no-CD executable for the game.
3. Run!

Simple really. There must be a more elegant solution though. If you don't do a full install it'll fall over trying to find the videos (as they're on the CD).