I am running PMM 3.92 natively on Windows 7 Professional SP1 64 bit on my HP desktop. It is extremely fast and I can drag and drop mp3 files from Windows Explorer to PMM Media Library. I'm having only two problems. First is I can't create voice prompts, get error message "Can't assign stream format", so I disabled voice prompts in options (which makes sync really fast), and I use an old XP computer to run the Options / DMS Repair / Recreate Voice Prompts. Second problem is during a Save and Eject, the eject sometimes hangs, but the separate PMM icon just for Eject works fine.
I also tried installing in Virtual PC / XP Mode, but I could not get it to recognize the DMS drive when connected to USB.