i would use a real Win95,98,XP in virtualization, there could be many micro flaws using Wine with this old stuff :)
there are subtile changes between the very early studio versions but when reaching VS2005/2008 everything is fine for upgrade
https://github.com/benstone/Microsoft-3D-Movie-Maker
there are a few that started to port: https://github.com/microsoft/Microsoft-3D-Movie-Maker/networ...