DOSBox is very compatible with most older games. And the DOSBox website has a few guides for configuring DOSBox on your system, so that it will detect your CD drive and so on if you need it to.
I've used DOSBox on Windows XP and 7, and it works like a charm. What you need to make sure of is, however, that DOSBox will RUN the program. If it shows that it is supported on their compatibility chart, that means it's fully compatible with DOSBox and will work with no errors.
For future refrence with DOSBox:
Runnable - the game will run, but will suffer errors, usually leading to crashes
Playable - You can usually play the game from start to finish but MAY encounter errors
Supported - fully playable, with no errors
Lastly, before you download DOSBox, make sure the version you download supports the game you want to play. Sometimes when they update DOSBox, games will go from Supported to playable, or vice versa, due to the programming of DOSBox.