Sorry to hear you guys are having problems running Studio 12 on Windows 7!
I got Windows 7 Home Premium yesterday and have today installed Studio 12.. and I have just finished producing a movie with it without incident! I am NOT running it in XP, or any other, compatibility mode.
What kind of problems are you getting? Have you installed the v12.1 update? I admit I haven't tried it on W7 without the update, so maybe that's the answer?
Good luck all... If I CAN help, I certainly will!
Mike