Sorry to keep dragging this up from the past, but I have an awesome update!
I actually *have* the game! I just found it in an old zip file on an old CD backup of an old backup folder from an old machine. XD Anyway... just found it and had to come post immediately! Haven't been able to get it to run yet, complaining about dx6amap.dll. (DirectX 6? Apparently *not* a game from the 80's. oops!) Need to go dig around some more...
I went looking for some plain text in the files and found a lot of really non-specific stuff ("Colony was not sustainable", etc). Sure enough though, there are multiple references to "Planetfall", but also "Ares" and just "Planet". Googling doesn't help on those terms. Oh! Just found a URL. "kimbrosoft.com". Nuts, doesn't exist anymore. Googling...
http://www.softandco.com/a/2421/planet-the-new-frontier.html This certainly sounds like the game. Download doesn't work (links back to non-existent kimbrosoft.com).
That reminds me of the waybackmachine. http://web.archive.org/web/20010721002911/http://kimbrosoft.com/ BINGO!
This is definitely the game... though I either meshed some other game into it in my recollections, or I had an older version. (Graphics are a bit nicer than my mental image, and I have a note written in a separate txt about a bug that doesn't seem to jive with what I'm seeing here.) SO freakin' excited. ^^ Okay, I've gotta go see if I can get this thing to run! (Now that I finally identified it, anyone else remember this game??)