While Devilution should produce a binary close to the original (compatible with Windows 95/NT), it may cause issues on newer systems. It has been reported to frequently crash on some setups, although for many it appears to be running flawless otherwise. Windows 7, Linux-WINE, and Windows 10 have all reported success.
Note that newer compilers may need to be tweaked to properly produce an executable. Currently this is being worked on to provide multiple Makefiles for a variety of systems. To ensure the best results, either MinGW or Visual Studio 2003/older should be used for the time being.
Compiling with different compilers (Visual C++, MinGW, Etc) will lead lead to different results with how the executable interacts with the operating system, and may lead to either weird crashes or different types of problems either during startup or runtime.
For example, for fearedbliss, on his Windows 10 x64 machine where he compiled Devilution with MSYS2/MinGW32, he was getting the following messages:
For the first issue, it is annoying but doesn't seem to stop you from playing the game.
The second issue simply requires you to use the DirectDraw patch (ddraw.dll). Once the dll is placed in your Diablo directory, and all of it's dependencies are installed (DirectX 9 Runtime, and VC++ 2010 x86 Redistributable), it will work.