Something I noticed on the box (Got my copy of Windows 7 today) - the "XP Compatibility mode" is pretty interesting.
Instead of using older copies of the Win32 API (Like XP did for '98 compatibility mode), they run your app in a virtualized sandbox using a micro-image of Windows XP and their Virtual PC virtualization software.
It's a great idea, especially given today's average desktop computing power.
-j
Yeah the VM XP Mode uses a solid 1GB of ram and a good chunk of one of your processors to keep running, so if you don't have the resources to spare (since Win7 uses 1GB of ram by itself) you system might feel a little stress if you are running applications on both machines. It's nice because the GUI allows you to easily full screen the XP mode and swap back and forth between between both machines. What it comes down to--try to install your application on Win7. If you have problems with it in Win7, then install it in your XP VM. Microsoft has a short list of compatible programs, etc. that I hope they keep updated. You can look for the programs you use a lot on this
list.