The WAC method (at least with my new .db file) ONLY has the Global Memory Status lie (it's not really Win 95 compat mode either). If you're using my New WAC .db then you need to insure you add the Heap variable to ca.ini.

My new .db has the Emulate Heap WAC settings removed. It's not needed as The Heap variable in ca.ini adjusts the game behaviour directly. My thoughts were if you can adjust game behaviour directly, it's usually better then trying to run compatibility settings.

It took a very long time to build this WAC. I tried every option (then dismissed them) in the WAC toolkit to come up with what we have today. Lots of combinations were tried. You'd apply them, restart game, dismiss one WAC option, repeat. Very time consuming. Vista has even more options.
Luckily it appears that Vistas XP SP2 compat mode, applied directly to the LB2.EXE file, negates the use of any of these major memory tweaks now.