Much as I am reluctant to say this...............
The recommended install for B&W1 these days(W95-98-2k-ME+) is from CD first attempt......
1. Create a folder called "Games" is the normal but any folder outside "C:\Program Files" will be fine.
2. Install the game to that folder.... Typically choose browse then delete "Program Files" and insert "Games"
3. Patch the game to 1.2.....Limited Audio is a common problem so just copy over from CD to the install as Sycai said
4 get the Myth 1.2 NOCD patch. Put your CD away it is getting rare so not for daily use.
5 Recommended avoid the 1.3 patch unless you really want to play MP , against "noobs" that will quit if you are winning.
......
Second Atempt
Uninstal B&W 1
Use a REGISTRY CLEANER
Goto 1
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MP
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I have tried a few....they loose or quit and their network becomes inactive or vanishes.
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Extra Info
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With the "Setup" utility set everything to max is fine but you need to leave it set to custom, so it can work the best it can for an old game.