Defiantly works better on Vista than it does on XP.
If you are running XP it takes longer to open a new Tab than to open a new instance of IE and then the page that you want.
There are also Security Issues with IE 7 on XP as well as it's still an unknown object. When it's running on Vista it's in a Sand Box completely removed from the Windows Kernel but on XP this just doesn't exist so you are attempting to use something with unknown security on a OS that it was never really written for. With XP you are installing in an Application directly into the kernel and as yet we are unaware of what Holes there may be in the application. There are also some features in IE6 that no longer exist in IE7 as now IE is divorced from Outlook Express you don't have the ability to do some things with IE 7 that you could do with IE 6.
On average it takes about 3 seconds longer per page to open a new Page or Tab and the more Tabs that you have open the slower the system runs. None of this happens when you are running IE7 on Vista as it works much better in that environment.
I hope that is of some assistance to you.
Col