Well, I used to play FF8 a lot back when I was using Win98, and it worked fine on a Soundblaster Live! card. (NB I wasn't using any MIDI Selecting software.)
That was quite a while ago. Now I have Windows XP. I picked up FF8 to play again, and the music was incredibly slow. I don't know whether it's a DirectX issue, or a Windows compatability issue, or whether I've just got different drivers now...
But I will recommend that everybody installs both Win98 and WinXP on the same PC to avoid situations like this coming up.
- Seth