Is there _any_ other good way to run SI on a modern computer?
Strangely enough, yes there is a project in the works that will allow you to do just that. Jeff Freedman’s Exult project is not yet complete, but it already has all of the functions of Serpent Isle working, and has included both new features and some of the engine enhancements from SI. It is a cross-platform program with ports for Linux, and Windows with versions for BeOS and the Mac also in development. It also needs the original game in order to work. Work continues on making further improvements above and beyond the original game features. .
