Well, it seems like opening the PAK file with Monkey Island Explorer views the files properly but the graphics are all garbled. Also, a friend of mine tried extracting the music files and opened them in audacity. While you can see the waveform, audacity will not play them, apparently.
"Booyah! Look out, LeChuck! Here comes Guybrush Threepwood's glowing sword of hot monkey vengeance!"
-Guybrush Threepwood, Tales of Monkey Island