Give it one more chance, guys. I run SH3-GWX with many added mods, and SH4 1.5 plus TMO/RSRD all under 64-bit Win-7 with no problems (other than I can still overload the graphics even with twin SLI'd ATI 8600's). The secret really is, as many have said, to do an absolutely clean install (delete everything from prior installations, including the SH3 and SH4 folders in your Documents file), and install to C:\Games\Ubisoft\... or similar, anything but the ProgramFiles directory.
Don't give up the ship!