Question about emm386.exe

VMM.VxD is way more sophisticated than emm386.exe.

So, in a nutshell, if you exclude both regions I mentioned above (or remove emm386.exe altogether, but I don't think that's really necessary to come to that), *and* install windows using "setup /p i" to instal without ACPI, I bet all will go smoothly. Then, after everything is up and running OK, you may remove the exclusion of the E000 segment, to see whether it really is needed. The whole C000 segment must remain excluded, that much you already know.

Then again, that's just my bet. You can't really know if you don't actually try it. But my previous experience with ASUS boards based on the 8237 southbridge leads me to believe that the procedure I outlined should be enough for you to have a stable machine with 9x. BTW, your board actually uses the 8237A chip, but, as you may see from this excerpt from an old press release about them, they are alsmost the same chip.

The main difference between the 8237A adn the 8237 is the introduction of HD audio capabilities, like Intel's ICH7, the chipset will support output of up to 8 channels and 192k/32bit. Otherwise, VIA VT8237 and 8237A is exactly the same, pin for pin.