It's most probably a driver problem, what graphics card / sound card do you have and what Windows 7 driver. I found I had to hunt for a sound card driver for windows 7 and it was a beta.
There really isn't much difference between Vista and Windows 7 as far as most applications are concerned, it's mostly Vista with much better memory management, less intrusive security and a couple of nice but unimportant new features.
The beta hasn't had any problem with any game I've played on it yet.
Oh by the way XP compatability mode is for business software and doesn't support Direct3D and things like that. Try without compatability mode.