I just got Majesty Gold, but the game locks up every time after I've played a few minutes. No error messages, it just hangs.
The introductory movie runs fine, and I've got the music completely off. I'm pretty sure I don't have the CCCP-Project codec packs installed, either, though I don't have a clue what that is. But I do have an nVidia display card.
Well, I'm not too knowledgeable about this stuff, so there's a limit to what I'm willing to try. I guess I'll just forget it. Luckily, the game was cheap. But the demo worked fine...
OK, I changed the shortcut to run in compatibility mode for Windows 98, and that seemed to do the trick for me. At least, this time I was able to play all the way through the first quest without it hanging. So you might give that a try, if you're having problems.