Mission: Move Premiere Pro from a stable working XP environment to Windows 7 Home Premium.
Constraints: Keep version PPro 2.0. No XP mode is available on Win7 Home versions.

Can it be done? From searching the web, the answer varies from a definite NO to conditional YESes.

Your search results are about accurate, with the sidebar that no seems to be in the majority. So that begs the question, why? Why not upgrade to CS4.2?

The answer is money. Upgrade will come, but I was hoping to manage with 2.0 a little while longer.