The application was first written about 8 years ago, I believe. So your assessment sounds correct.
The following statement is used to configure the com port:
"OpenComConfig (1, 2400, 2, 7, 1, 512, 512, 0x3F8, 4)"
The format of it does not correspond with the latest documentation I have seen, and it uses the com port address specifically, so this must be the problem.
Is it as simple as replacing the above statement with:
"OpenComConfig (1, "COM1", 2400, 2, 7, 1, 512, 512)" and recompiling the application?
Again, I apologize for being ignorant, but can you outline a few steps I would have to perform to make the application work in W2K? I have all the source code, thankfully.