Is there a compatibility mode to run Home in? (as XP)
In WIn7?
Sort of.....
You can still right-click a program, and select a compatibility mode (moving back in OSs). I have had spotty luck with that, as I still use Fortran compilers that haven't been available since WIn95.
Now, with everything migrating to 64bit, another issue crops up. IF you have a 64 bit system, and want to run older 32 bit software, it can get a little hairy.
With real old software (or even not-so-old software), it runs better on XP x86 straight up, and XP had better compatibility modes than Win7 IMHO. Now, I am not taking anything away from 7. The reality is, Win XP is 10 years old, and 95/98, of course, is even older. Even MS has to draw a line in the sand somewhere.
Now starting with the Win7 Pro versions (Pro and Ultimate), the OS supports an XPx86 virtual machine that can be downloaded (free) from MS. It is actually an XP SP3 virtual machine that allows you to do whatever it was that you wanted to do on a true XP OS. The kicker is that your HARDWARE must be able to support virtualization (processor(s) and BIOS) --- not all do. Secondly, on a quad core AMD Phenom (64) with 8gB of RAM, the virtual machine takes, on the order of, 40 seconds to become usable. I can only imagine what happens with a system that is not loaded with steroids. YOu may wait a while.
For me, this was ideal. Running WIn7 Pro x64, have XP Prox86 running as a virtual machine, so I am golden with older programs...
Of course, if you still have source media and legal licenses, and your hardware supports it, there is always the ability to run different OSs on different Virtual Machine software, such as VMWare (which I recommend highly). IF you have a lot of older programs, I would move toward virtualization rather than fuss with compatibility, but that's just me.....
Now, I run Home in Win7x64 Pro, and ewverything has worked like a champ from day one. UAC is off, and I am running from an admin account. Drift away from THAT, and I am not sure what would happen. Home works great in the Virtual XP machine over NAT. That is seamless as well. So far, So good
hope this long-winded explanation helps.