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In order to get a running install, use the following steps:
– unpack the self-extracting archive
– run the installer:
wine setup.exe DISABLEROLLBACK=1 BLANKSAPWD=1 DISABLENETWORKPROTOCOLS=0 SECURITYMODE=SQL
– installer will report an error, but will keep the service installed
– move all files from c:\users\{username}\Temp\SqlSetup\Temp to c:\windows\system32
After that the server starts as soon as you start any other appliaction in wine. I recommend the following:
wine “C:/Program Files/Microsoft SQL Server/80/Tools/Binn/sqlmangr.exe”
Service is accessible on localhost:1433, user sa, empty password.

Ive never dealt that much with Exchange 4… maybe? I doubt 5 will cooperate it’s much too picky with too many child processes that expect to be started as a service.

For whatever reason wine really lacks the ability to run services.