Yep, here's the fix, quoted from BA:
Then, I went into the registry under Hkey_Local_Machine\Software\Microprose\B17\General and changed UseA3d from 0 to 1. If I then start the game using game.exe rather than b17setup.exe, my gun sounds are back in all thier glory!
Two things to note: I havent really tried this extensively, so I dont know if I will get CTDs etc... Another thing is that if you run b17setup.exe at any point after this, it will not let you tick the a3d setting, and will reset the above registry UseA3d entry back to 0.
I'm using this fix on Vista and it works like a charm. key is to use the game.exe as the shortcut afterwards. No CTDs for me.
Here's the new link to bombs away: http://www.bombs-away.net/forums/index.php