Info
ArcElite rules, no question. You need an emulator to run it, there are two that I know of. RedSquirrel is a premium emulator for windows, but it eats up resources and you need a decent computer to run it well. Archie is dos based and works well, also is easy to setup and will run on slower machines.
The solution offered here is a ready to roll installation, meaning you just unzip it to the right place, and play.
Solution should work, but has not been tested. Please mail me if you find it doesn't work or if it does so I can confirm it works.
Quick Fix
You access the emulator window by pressing ctrl+end. From there you can change a few things and dump a screenshot.
Use your mouse to steer. Use capslock to toggle damping on and off, once you get used to a mouse and damping, it is good during combat as you can match the roll of you opponent rather than trying to keep up. Switch it back on to straighten out though.
Right mouse button accelerates, left fires laser, left alt key acts as middle mouse button and decellerates.
C for docking computer as usual, but D switches it off. The auto pilot can crash you, it gets confused if you try to move around with it on, when you switch it on, sit still.
To save, you need first to dock your ship then press F11 or click the icon to get to the arc desktop. Move pointer over nthe elite icon in taskbar, and press alt to bring up menu, select save and enter save filename, just hit enter if you loaded a save game.
I have a save game in there, but you might want to avoid using it as some of the missions are aready done on it.
Details
If you know what you are doing with emulation, you can get just the arcelite disk here
You can pretty much install this wherever you want, but then the batch file won't work.