If it won't work under Vista, it is not likely to work in Win7 either.
Windows 7 Professional allows a program called Windows Virtual PC and what is called "XP Mode". This means you can install XP in a virtual machine and run those older incompatible programs in the virtual machine. This is the increased compatibility you have heard about.
Not all computers however provide the required hardware support needed to run Windows Virtual PC and XP Mode. I have a brand new Dell laptop and the Intel chip in this system does not support Windows Virtual PC. So you need to find out on the new computer exactly what Intel processor is being used. This Intel site provides a link to where you can lookup your processor or you can download a little utility that can tell you if your processor supports hardware virtualization.
As an alternative, VMware Workstation allows the same functions as Windows Virtual PC and XP Mode but does not require hardware support. It is much more widely used. I have used it for several years.
Probably way more than you needed to know, but that's the story.
OG