Oh you lucky boy, at least you have Smartsound 
Joking apart, that product is 9 years old so take it back to whoever sold it to you. It was released in October 2005 for the Windows 98/ 2000/ Me and XP operating systems (32 bit). Studio 10.0 had various problems and several updates were brought out. Versions 10.6 onwards could be installed on Vista and W7 but required patching to 10.8. Versions prior to 10.6 required a patch to be downloaded for installing on Vista/ W7. Windows 7 and Studio 14 were both released at the same time so I never did fully test S10 on W7.
The 700 PCI does have a driver for Vista/ W7 64 bit. http://cdn.pinnaclesys.com/SupportFiles/Hardware_Installer/readmeHW10.htm
However be very aware of the comment at the bottom of the page which says "
Important Note: MovieBoard 500-PCI/700PCI has an issue on Windows 64 bit systems when the computer has 2GB or more system RAM. In this case Studio will crash during capture. For this reason other capture devices are recommended on most Windows 64 bit systems."