Download Microsoft Application Compatibility Toolkit 5.6, and run it as an administrator. Freelancer.exe cannot be read only.
Create a database with a IgnoreHungAppPaint compatibility fix, a WinXPSP3VersionLie compatibility mode, and install it. Testing the database can be attempted before installation, and the database can be uninstalled.
When I upgraded to an APU, I lost CoolnQuiet compatibility in XP, and I was tiring of virtual machines and their quirks. Although there is still frame stuttering in game, it is significantly reduced. There was none at all in XP.