Hi Mesh,
You can install BODS on Windows 7 (both server and client) through command line, but tricky if you are not familiar with it.
use setup.exe ServerInstall = "YES" by running as administrator from command line.
Client could be installed with out any hassles.
If you have an option of Windows 2008, i would suggest to go for it. It supports all versions, both 3.x and 4.x
Thanks,
Arun
