Yes, Studio 14 and Studio 15 is supported on Windows 7 as well as Windows XP and Vista.
The following link shows which hardware is compatible with Studio 14 and Studio 15:
What capture hardware will work with Studio?
Most of this hardware will work in Windows 7. Click the following link to go to the hardware driver download page. If there is no driver listed for the desired hardware in a certain column, it means that the hardware is not supported under that operating system.
Pinnacle hardware drivers download page