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I used the DXWnd solution in a batch file as follows. Works like a charm.

@echo off
start "" /MIN "D:\Games\DXWnd\dxwnd.exe"
"D:\Games\GOG\Robin Hood - The Legend of Sherwood\Game.exe"
taskkill /f /im dxwnd.exe

I configured DXWnd as in the previous posts.

I ran DXWnd as administrator the first time only, and after that I didn't need to run as admin again. I tried to run it the first time as non-admin and it crashed, but after running as admin once, all was OK.
ScottiePrimo's post worked!

Yet the game stutters with enemy line of sight. Any tips?
Yes indeed. Just read my previous post, where I mentioned a solution which seems likely to work for everyone.
Post edited April 19, 2017 by NovHak
NovHak: Another solution that some may find more simple :

1) Get the latest dgVoodoo 2
2) Copy the contents of its MS directory to your game directory
3) Run the dgVoodoo2 setup executable
4) In the DirectX tab, select your emulated video card of choice (I suggest "dgVoodoo Virtual 3D Accelerated Card")
5) Check the "Fast video memory access" check box
4) Click OK (will apply changes and close the setup program)
5) Run the game

dgVoodoo 2 is a very useful tool when it comes to play old, pre-DX9 games, as well as games using the Glide API. Dege's website even has a list of tested games.
Thanks NovHak, this worked for me like a charm. Can only recommend this solution if you have problems under windows 10.
For windows 10, you can go to moddb and type 'Robin hood the legend of sherwood' and click on the link which says 'Robin hood - Performance fix file'. After downloading the file and extracting it, copy Robin hood - performance fix file and paste it in the game folder then click on it and robin hood will start.
I have tried it and it works like a charm :)
Post edited November 02, 2017 by arsalan12