I have it working and I remember it being a bit of a battle. Unfortunately I can't remember exactly what I installed, and in what order, to get it running, but here is what I now have installed:
Yes, thats correct. MSQL 2005 is a legacy package that has long been since superseded. I am surprised it would pull correctly on Win 8.1 64bit without some gotchas.
I reinstalled windows for other reasons and it some how made MM work when I reinstalled MM. Were you able to install an old library for mm or did you have to start a new library?