Well, there is no automatic downloading of VDMSound and Glidos software (as you included in your installer), but there are the links to official sites, so the files may be downloaded as well.
Glide version of TOMB.EXE file is included in Installer EXE resource and it's extracted if needed and also copied to C:\TOMBRAID folder
I figure out why it hangs with your installer: HMISET.CFG mostly works with IRQ7, but sometimes IRQ5 is needed (as on my PC). Also, on some graphic cards (including Matrox G400 I had before), it crashes if no fullscreen is used. My installer also creates a PIF file with fullscreen enabled, disables screen-saver and setup the bitmap font only.
If you found it's useful, you may put it to your official site. Software is free for use, of course. If you are interested for source files, please let me know, I may share it if needed (project was created in Borland Delphi 6 Update Pack #2)