Give P2 time. . . they just remade the original Privateer. . .
http://priv.solsector.net/
Talking about P2 inspired me to check the Internet again re: P2, while looking, I did find the P1 remake. Have you installed this?
It's 180MB, I got about 20% downloaded and it locked up all my Internet communications. I had to reboot my computer, cable modem and router/firewall to get back online. I was thinking it might not be a good idea to go back there again.
I also found this site which looks promising for P2. It tells how to copy, patch and burn a new P2 disc 1 for use on Windows systems. I think I'll give it a try.
http://www.perli.net/projekte/privateer2win95/