Thanks for the installer Man. I Managed to finally finish this game on windows 7.(when i was a kid my second disc of the game was broken so i only managed to play it til mission 7 back then)
I have found an Easy workaround for Item/Inventory bug:
1.when it happens, find another item. it may fix it.
2.in 90 percent of the times there is no need for using inventory.(you can use shortcut keys instead for weapons and artifacts)
3.and there are some times where you really need to open the inventory. for that you can quicksave via F5, then Alt-F4 the game. and after that load the quicksave.
by the way aside from the Inventory/Item bug there is also a Grey Screen Bug that may happen when picking up an item.(you can only see the HP bar)
Edit: I also realized that the first cutscene will play correctly(with it's sounds) only if you disable the desktop composition when running the game.