Just tried the 32-bit version (1.6.2.17) on a Windows-2000 machine and it says "Wabbitemu.exe is not a valid Win32 application."

I suspect that this build is compiled with Visual Studio 2010 and it seems that it cannot compile Windows 2000 compatible binaries anymore - this is as of about a year and a half ago - and it doesn't seem as if Microsoft is going to fix the issue since win2k isn't a supported platform anymore.

Yeah windows 2000 isnt supported, but I believe most things should work. The build is indeed compiled with vs2010, the way to fix the issue is to be up to date on your service packs, I think you need SP4. Same thing with XP, you need at least SP2 to run.

I'm pretty sure my Win2k install has the latest service pack... I've run into this problem with some other programs and as far as  know there is no workaround.