If you have a hard drive, you should be happier using meynaf's enhanced versions of Dungeon Master:
http://eab.abime.net/showthread.php?t=49830
There is a Dungeon that is the same as the original Dungeon Master but HD installable and working 100% without copy protection. Some of his other Dungeons are fun also but I would stay away from the insane difficulty dungeon if you think the original Dungeon Master is difficult.
I never played Dungeon Master. I did all the SSI "Gold Box" games (Pool of Radiance, Curse of the Azure Bonds, Eye of the Beholder, etc.), and a ton of similar games on C64 and other platforms, but never DM. Is this a stand-alone self-playable version here? Or does it require the original disks or some other convoluted install scheme?