Alright, I've attempted this check off list but run into a few problems (note: I am not a programmer in any way, but I can follow lists fairly accurately).
First problem: xWMAEncode.exe could not or did not convert my files. The command prompt just blinked on the screen and disappeared again. I have a copy of Monkey Island CD music which I used instead since I couldn't convert the real music. I don't think this will cause an issue.
Second problem: This is the major issue. mkspeech.exe doesn't work for me. While the patcher works just fine, mkspeech tells me that it "Could not open "speech.info", whatever that is. Without mkspeech working, the entire talkie-conversion doesn't work making my efforts all in vain. I can't get the new mi1new.txt file or monster.so3 nor move on to step 10. Just to make sure things don't work at this step, I tried it on Scumm and it player just like it were the normal CD version, no talkie.
Can anyone help me with a solution to this problem? I'm so close to getting it all done but this one step seems to be killing any progress I've made. Thank you!