I played this a while back on Windows 7 and I ran through the complete game and when I got to he ending it showed like two slides in less than a second and then immediately skipped to the end and it was over.

From what I remember the game was supposed to show epilogue slides similar to the Fallout series. This didn't happen. I have Windows 8.1 now.

Does this issue still exist?

You aren't alone with this: ;-)

http://www.gog.com/forum/arcanum_of_steamworks_and_magick_obscura/ending_after_final_battle_seems_glitched_possible_spoilers

Also, i'm posting the ending in the following link for anyone that plays it for the first time and can't get to the ending as it should...

http://lparchive.org/Arcanum/Epilogue/ <<< (BEWARE!! SPOILERS)

That's a DirectDraw issue, which means it'll always exist. :/ (I believe Fallout has this glitch as well under the same circumstances.)

IIRC, the usual way to fix this was to disable the DirectDraw hardware acceleration via DirectX 9 control panel (DirectDraw tab -> [uncheck] Use Hardware Acceleration). Now, Win7 apparently doesn't have the standard DirectX configuration tool by default, so one would have to obtain the neccessary file (directx.cpl, goes into the Windows\System32 folder, can be launched directly with right-click -> Run as Admin option) in order to do that. Win8.1 might have it included, though, so check the control panel for the DirectX icon.

It's actually possible to check for this glitch before even starting the game: watch the credits from the main menu, if they skip, so will the ending slides.

This is good information; thanks.