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The short answer is no, it will not work in Windows 7. It was designed for Windows 95 and I have to say I haven't seen one this century. It doesn't even have drivers for Windows XP, although they may well be included in the operating system. Sorry, but it's just too old for Canon to rewrite drivers, they would much rather have you buy a new printer that they will support for the next 10 years or so.
If you do get something newer, you will find the ink is more economical and the print details is much higher, I don't think you will be too disappointed.