I'm not an expert but I have had the same problem with Windows 98SE with Vmware Player for Windows Vista; I hope that this solution is useful!
I've tried to use the SB128 drivers (SBPCI128Setupus_w9x.exe), getting the same BSOD; so I've downloaded the file from the same link that you have posted (the first one), and before installing the new drivers (SBPCI_WebDrvsV5_12_01.exe) I've modified with a text editor the .vmx file related to the virtual machine, introducing at the end of the file the line:
sound.virtualDev = "es1371"
(power off the VM before doing it!); I've booted up the virtual machine and I've deleted the file C:\windows\inf\ctpci9x.inf, generated from the previous, unlucky setup.I've launched SBPCI_WebDrvsV5_12_01.exe, followed all the steps and rebooted.
I hope that my instructions are understandable - as you can see, my english it's not very good!