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I am so glad that I came across this forum post. I was having the same issue until I went into setup and changed it from Hardware Acceleration to Software. Now TRIII is running just fine! Thanks to everyone who posted solutions here.
can you please tell me what compatibility setting are you using please
Well, I tried all of the above, but it still fails. I have Windows 8. There is no compatibility level for W8.
"Make sure you're looking at the GOG folder in the Start menu, and not the install folder in Program Files. You won't find a setup file in the Program Files folder."

Say what? I have no GOG folder in my Vista Start menu. Where is this to be found? I've run the setup for the TR123 package from the GOG Downloads folder, specified that I want TR3, and it says it is installing, but I get the error message too, when I try to run the game.
Hi guys,

I've tried running the set up multiple times and have tried all of the above and nothing has worked. I have W7 on this old toshiba laptop. Any help is greatly appreciated.

(P.S. Please don't be mean to me, I am not very savvy, lol.
Thank you!).