It might, but not one functional with FPSC X9. If you install/reinstall DX9, it'll work fairly well. Not as smooth as XP, but it'll run. Windows 7, on the other hand... The editor is slower than molasses and doesn't recognize that you've clicked half of the time. But I guess that's what I get for trying out a RC of a new OS. That's actually what started me looking into VMware. I'm running XP, Ubuntu and 7 all on the same machine...
Anyway... Back to the issue at hand. Installing DX9, along with turning off UAC and running as administrator will allow you to run X9 in Vista.