yes, it is working on Win 7. I am using Windows 7 64bit (on a laptop) and everything is working just fine. However I have installed it just now, only to check so i am not sure if something crashes later in the game. The installer itself may be irritating as it takes about 2min to do anything (before that, you may think it just failed to initialise)
Strange. It works rather well, but I get a few annoying bugs (turning with the mouse becomes slow as hell with Max and the infamous loading bug).