it depends on what build of Windows you have but it should give you an error message

example, the most common error in Wizardry editors is that "TABCTL32.OCX" is missing... Windows doesn't use that file anymore so editors built around 2000 will look for [and not find]

p.s, I use the w8edit witch is a basic copy able to edit stats and add any item / spell... it lives inside your game save folder and you can download a copy from my old site here if you want it
www.nibbit.net/assets/wiz8.7z