I tried to compile WINE 1.7.7 for TR alone, but compiling 32bits in a 64 system is troublesome. The reason that I was forced to use 1.5.19 is because it was the only version that worked. I've seen people use other newer versions of WINE, I'm quite jealous since I had to do a dirty workaround.
So, what happened if I used 1.7.8+?
The game will work, it will launch. You can configure the settings and all, but when it came to PLAYING the game it would freeze in the menu section, so it never loaded.
As for the libraries, don't sweat it

Just use PoL official script to install the game, then swiftly change to the WINE version you want, that's what I did.
To those who don't use PoL (?)
Enable StrictDrawOrdering in the registry
Disable GLSL
Install dxfullsetup (it should come with xinput.dll)
else
install xinput if it didn't.