In terms of running it in a virtual machine, I can run Dangerous Waters in a Windows XP virtual machine, but I had to either install an add-on package or configure graphical settings so it could run it. I'd look into that for Fleet Command for the VM.
There should be a way to launch Fleet Command such that it's only using one thread, trying searching Google for launching a program to use only a certain number of threads.
Hope some of this helps.
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