When I first ran this game I selected 32-bit colour and then I couldn't get any AA (the in-game option and trying to force through drivers did nothing).
It works fine in 16-bit colour, though :)

I've played this game since the day it came out in 2000, obviously with a very wide range of configurations.
At one point I actually returned an ATI X800 card (to big box retailer with generous policies) because some extremely bizarre things happened to graphics in game, on some maps ... whereas my 9500 Pro always played the game flawlessly.
The behaviour of the game regarding 16-bit vs 32-bit seems a bit sensitive to vid card and drivers. For instance, in some configs the Scapex editor crashes violently unless run in 16 bit.
I've had a recent battle with precisely the problem you mention, with an nVidia 8800 series card. With my previous card, a 6800GS, and drivers around 93.xx, the game ran fine with 32 bit and AA. Unfortunately with the 8800 and current drivers, I have to make the choice between 32-bit, no AA or 16-bit with AA. I chatted with a bunch of other Saccers online, and despite many suggestions, nobody could come up with anything better than this choice.
Evidently something has changed. All we can hope is that whatever has mutated will someday mutate favourably again ...
Cheers,
Kink