I Just bought and downloaded Fallot 2 having just finished Fallout 3 New Vegas.....
I did a bit of research and it seems that peolpe have had Fallout 1 and Fallout 2 running on 64bit win7 however i am stuck at the installer stage!
It seems that Win7 doesnt like the "setup_fallout_2.exe" file downloaded from this site and will not execute it. Having searched the forums and support pages I have tried the following;

Disabled UAC
Tried various compatability modes
Run as administrator
Run from a location other than the windows program files location

I sometimes get an error message saying it is "not compatable" and sometimes that the file can not be found even tho the path and file name are correct.

I wouldnt trouble you with this however some posts do say that it does run ok on 64bit win7.
Any help here would be appreciated

One thing that came to mind... did you download the installer using the browser, or did you use the GOG downloader program? Many users have reported some problems with the GOG downloader so downloading with your browser might be more reliable.

You also might want to re-download the installer regardless, as it could have been a corrupted download.

I would try to download it again and make sure your firewall or antivirus are not interfering with the download.

Thanks for the help

Whilst going to my download folder to delete the files prior to re downloading i discovered, by chance, that there was another "setup_fallout_2.exe" in the root of my Downloads folder (i.e. not in the gog folder containing the "setup_fallout_2.exe" causing me problems)
This other file worked and installed the game which runs perfectly, I have since installed Sfall & the high res patch and the to work perfectly.

I have no idea why the other "setup_fallout_2.exe" was where it was (out side of the Gog folder) but I works and i am happy :-)