I did the c't CD years ago using Win95b.
The programms I added - a lot - did all work including internet access.
The point of missing dll's is caused by the installation programm.
Many dll's and other system files are copied during installation to the windows\system-dir.
When the exe-file of an installed programm is started it looks for the dll's required FIRST in the dir were the software was installed. If it does not find the dll is searches the path and will therefore find the requested dll's in the windows\system-directory.
The easyest way to get an installed software 'stand-alone' running is e.g. on the a.m. bootabel CD is to collect all system-files (dll's and others) in a new directory e.g. \#32 for the 32-bit dll's and for win 3.1 apps the dll's into \#16.
Include those to directories \#32 and \#16 in your CD and set the path to point to this - best before \windows and \windows\system.
If you then start the apps from the CD the required dll's are found due to the pointer of the path-variable.
The more precise method in looking what dll's and system-files are copied during the installation to the windows-dir is to use an install-tracer like INCTRL3.EXE (its better to my few than version 4 and 5)
Instead of using run/setup (or whatever it is in the english windows version) you call up INCTRL3.EXE and let it start the setup.
You are asked for a report name and where to store this report.
After installation AND before rebooting (if the install programm requires this) save the report and use it to identify what system files are copied to the winows-dir.
These files copy back to the apps-dir (were you installed) and the exe-file will find the required dll's emidiately.
With this method I got most apps of Office 97 running from a CD without the need to ahve it on my harddisk.
To check the result is to make an image of your boot-drive c:,
then install the apps using INCTRL3.EXE, copy from the windows-dir back to the apps-dir and restore the old image.
Now you can check if the installed app is running directly.
Many do this : PaintShop, older Photoshop, Total Commander, Opera, Netscape, Open Office etc.