After not having played the original IWD for years, i finally found it here for a good price, but now that i've made it to the vale of shadows, i've come to notice that my game is running fast. I wasn't really sure at first, but upon closer inspection my characters are running way too fast and the comabt is occuring way too quickly, and especially apparent is the spellcasting animation. This isn't really ruining my game or anything, but any ideas on why its happening and how to fix it?

In config.exe under game you can lower your AI updates per second & that will slow it down.
I think the default is 35.

The default in AI updates per second is 30. It really shouldn't be set to anything but that on modern systems.