Windows 7 won't give you a problem, as long as you don't install to the default location.
What's more likely to cause trouble is the rest of your hardware. Especially the video card.
If you want to know more, Please post a "Dxdiag" report:
Start (Vista or 7), type in "dxdiag" (without the quotes), save the report to a desktop text file (default). Copy and paste the results (the whole thing) here in your thread.