It should work fine. The problem is Windows 7 64-bit isn't compatible with a lot of older hardware items (and some software). I just recently purchased a nice, new, fast computer and knew that doing that would cause me to have to replace my aging interface, because Edirol didn't update the drivers. (Now I'm an M-Audio ProFire 610 man.) If you don't have that problem, then you should be fine.

I installed BIAB, PT, and RB and they seem to be running fine for me. I haven't tried recording vocals, yet, so maybe I shouldn't say that...