I love that game! There are a few issues I ran into. Maybe they will save you some time.
1.) I have to run the DOS version to keep it from running in a window (DOS and WIN95 versions came on the CD), so I had to setup the DOS sound drivers. After all the soundtrack is one to the best parts of this game.

2.) I can't use my spinner with it. I have to play with the joystick, but it's still a lot of fun.
3.) There are also parts of the game's menu that you need a mouse to navigate. I think this can be changed in the settings somewhere, but I haven't found it yet, too busy playing! This isn't really an issue if you have a trackball in your cab.
As for the STD Res monitor...I don't know. I use a TV. The game is low resolution though, remember it's made to be a DOS game, so I couldn't imagine you having any problems.