The worst that came come out of this is that the video card will not be good enough to run the Aero interface. Other than that fancy eye candy, it will be able to run, as that version is able to run Vista basic (it did on my Acer 3680)
The Acer website does not have support for Win 7 drivers though, but I suspect you will still be able to install and run it.
No matter what, it's always best to back up all your information needed....
here's the Intel Windows 7 driver for your particular graphic chip: http://downloadcenter.intel.com/SearchResult.aspx?lang=eng
