I do not think that this is a Windows 7 related issue but more a resolution issue. I have encountered this same error when I adjust the game resolution to high. Try to go in to the EQ folder and launch the settings app set to default and resolution 600 x 800. If that works keep increasing the resolution to what you see fit. FYI i am no computer gurue.
Good luck!
STRIDES 49 druid <DIVINITY>