Even Steam themselves say it sucks for preventing piracy:
The Steam DRM wrapper by itself is not an anti-piracy solution. The Steam DRM wrapper protects against extremely casual piracy (i.e. copying all game files to another computer) and has some obfuscation, but it is easily removed by a motivated attacker.
Plus, it's optional for devs.
I don't remember all the steps I had to do, but I do remember it being a pain in the ass. I downloaded the black edition from myabandonware.com and installed a widescreen mod (which messed up the UI since some elements were slightly offscreen, but it didn't bother me).
Besides that, the only other annoyance was the controls. There are actually a lot of community layouts for this game, but the ones I ended up using were a pain when navigating the menus. You'll definitely want to try a few.
FWIW, here are my current working launch settings for it:
WINEDLLOVERRIDES="dinput8=n,b" %command%
So I guess if you get past the installer, those should get it to launch.