If I install and run (with no changes to Compatibility with Windows Explorer for Parkan2.exe), immediate crash.

However, If I put compatibility for Win XP SP3, I get:
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Error
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Can't open RegOpenKeyEx [SOFTWARE\Nikita\ParkanII\InputConfig]
Do you want continue?
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Yes No
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If I choose Yes, a similar error occurs for different registry key, Yes again:
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Critical Error
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.\Render.cpp(326): RenderDevice not created - Invalid call: D3DERR_INVALIDCALL
Application will terminate!!!
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OK
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How in the hell can you run this game on Win 7 x64

Use Registry clean & repair tool, reinstall & update DirectX & drivers.