I was able to fix that problem by going into the Options panel in-game and changing the sound source to one of the DirectSound drivers. Ultimately, I think the root cause is the game's using some really old audio codecs that don't run so well under modern hardware.
(edit: or if DirectSound doesn't work, just work your way through each of the audio drivers. I remember flipping through them one at a time and eventually one of them worked.)
Post edited November 22, 2013 by Ryan333