Okay, so there are apparently a few more things to keep in mind when using this fix.
1. You have to right-click on Rogue Squadron.EXE from your install folder, click Properties, then set it to Windows 95 compatibility mode AND Run in 640 x 480 resolution. You can't use Windows 98/ME compatibility, nor can you use Win 95 without checking Run in 640 x 480.
2. Apparently RS detects two video drivers now, the Primary Display Driver and a Voodoo (Glide) driver. I have had problems selecting the Voodoo driver; it has only worked for me when I either haven't selected a card (i.e., never clicked the Configuration option in the launcher) or have selected the Primary Display Driver.
3. I have figured out a nice work-around for the camera problem I mentioned above. If you hit F1 when entering a mission, it puts you into what I'm calling "cockpit mode" after one of the in-game options. Though it doesn't actually put you in the cockpit, it centers the camera on the back of your ship, so you never lose sight of it.