I tried dgVoodoo with my CD-ROM retail copy install of Panzers Phase 1 a few years back, although the game works fine with Windows 8.1 the BIK video intro was just a blank screen with only the audio, but with dgVoodoo placed in the Run folder all is working again perfectly. I love the options for old video card emulation, one being the Geforce4 Ti 4800, I still have a fully working Geforce4 Ti 4600 in my old PC and I also remember the old Voodoo cards. Yes I'm old.
It's certainly a nice little wrapper tool for older Glide, DirectX, DOS and OpenGL games on newer computers but it does not work for all old games sadly.