Update!! You can use it in Windows 7!!!!!!!!--10/31/12
Bob the man emailed me today with the instructions!

I am running Picture Publisher 10 on both Windows 7 32 and 64 bit machines with no problem. The one problem I did have was fixed by going to and unchecking "Enable Direct Draw" and "Sizable Zoom Window" while I was at it if it was checked.

thanks again Bob, I tried it and now I can use PP10 and save Jpgs!

I still have photoshop for the big jobs, but now I can know out quick stuff with one of my old Favs!

3/17/11 : I added the unofficial Message board for us! Please join and share!
Arts and Letters & PP10 Message Board!!!!!

Picture Publisher 10 on Windows 7 : 8/14/10

Welp, I installed this and it worked kinda on windows 7, it was very buggy and if I stayed away from JPG's it seemed to work.
Searched the web, emailed one of the origional developers (never got an email back) and settled on a crippled version.(NONE of the compatibility modes made a difference)

About a week ago I updated my video card drivers and there was a few windows updates.
Once I did that it got sooo unstable it was no worth messing with.
Frustrated and needed to get an AD out for the www.arcadecenter.com Arcade Expo I loaded up the following
Get XP Mode for windows 7 Now it runs perfect in the Virtual PC, it sees the Local drives of the Windows 7 host OS, and I am back to using my 9 year old software!