The project written in C# and needs only .NET framework 4 and DirectX 9. Managed DirectX was removed and replaced with direct calls to native DirectX. This is why it can run on any windows from Windows XP to Windows 10. You can run it even on Linux under the Mono. But the graphics will be not so good as on DirectX.
This emulator is designed in the way to be Virtual Machine style. You can change emulated hardware just on the fly.
Full support for Windows XP/Vista/7/8/10 x86/x64. Don't forgot to install DirectX 9!