Well the problem is the fact that it's trying to search for those other programs. Not wether they are there or not. This is common problem with windows programs, Because they like to drag more programs into the mix with them. And wine doesn't handle that very well.
So far I haven't been able to get the installer to go past the initial setup screen. However the runes of magic launcher works perfectly under Linux. So there is always the manual install option, But I was trying to get around that.
Those old systems are funny to watch. I have a room full of them. But I don't think i want to try this on my old TRS-80's. I never had a C64, I was into the color computer and started getting paid to program with those. Talk about a dead end career.