i dont know about 95 but maybe a 98 would work. ive done it with a xp and 2k laptop. the program it self isnt high tech so i doesnt need much processing power.
yes the lt8s is the newer one. but i didnt think they stopped making it. did you call the number on this page
http://www.microtechefi.com/html/CONTACT.HTM
did you try calling CFT to see if they had any in stock?