If you get a crash in year 3 when entering the engine room, you might have to compile Grim Mouse from source, as it is caused by a bug that was fixed in ResidualVM, but isn't in the new Grim Mouse build (although it is in its source tree). The author said he'd release a new version of Grim Mouse with the fix for this problem. It only seems to affect a small amount of people (which did include myself, so I can confirm it plays fine when compiling it yourself from source), so you can try playing through 0.4 now, since it's possible this bug won't affect your playthrough.
Grim Mouse, the modification of Grim Fandango and ResidualVM that allows you to play through Grim Fandango with just a mouse, has been updated to 0.4. All of the bugs that kept it from being played through with just the mouse should now be fixed. I've played through all parts of Grim Fandango with Grim Mouse (albeit, in separate playthroughs), so Grim Fandango should be completeable with just a mouse now.