NICE MAME CABS MAN- Space Paranoids should run fine there- It is made for 2 joysticks now (asdw the left JS, arrow buttons the right)- Will need to assign buttons for fire (space), turret align (brings turret to front, x), coin (5), and start(1).
Zero during the text attract mode (the first thing it does if it doesn't crash) pulls up the diagnostic mode.
I am not sure why you're getting a runtime error. I will download and run the program from the site to see if it's that. A couple of things to try-
1) Try running on another machine- Your machine has more than enough juice to run it but there are some quirks with regard to file saves that cause crashes (it writes a bitmap file on opening and this has caused problems on some machines).
2) Try running the display res executable and setting it to 640 by 480 or above.
A start at least-