If your PC has an Intel Graphics Controller, please see this website for compatibility. Some models do not have Pixel Shader Support. 3DAnalyze does not help, as i don't think it actually emulates Pixel Shading even with the "Emulate Pixel Shader caps" activated.
So, if you have one of the models in this link, that do NOT have Pixel shading, then using 3Danalyze to force pixel shading of any type, will not work.
Link: http://www.intel.com/support/graphics/sb/cs-014257.htm
If anyone can tell me otherwise, and have successfully found a way to run Black and White 2 with no Pixel Shader capable graphics card, then please, don't hesitate to share your findings.
-Sh2DaK-