In case Babylon does not work on your Windows 7 64 bit PC, get a tool to virtualize the application, so it can be used as a portable application. Cameyo is the one I used to do this trick, but there are others.
I Use a small and very efficient tool called SQLtools to handle Oracle databases and it works fine on Win2003 and lower. Now I have to run Windows 2008 R2, which is 64-bit and my tool doesn't work anymore.
When virtualizing the application a complete setup is created inside the resulting executable, including folder structure, registry, etc.
As it is contained inside it's own environment, just the way the application likes it, the application will work without problems in whatever Windows version it is used.
What to do:
1 - Get Cameyo (there is a freeware version)
2 - Preferably install Cameyo on a 'fresh' Windows XP installation. Some versions of Windows 7 64-bit come with a virtual-PC based XP for backwards compatibility. that is one option you could use for this.
3 - Cameyo warns you when you are able to install Babylon in the virtual PC. Do so.
4 - When you are done installing, use the 'Finish' button from Cameyo.
5 - Cameyo will start making a second snapshot of your system and stores the differences as created by the Babylon installer
6 - After Cameyo is finished you will have one executable file that stores the complete Babylon installation (I do not know how big the installation of Babylon is, so I can not tell how big the resulting executable will be).
7 - Run the executable in Windows 7 64-bit.
That should be it.
It worked out beautifully for me, at least. Hope this info/tip will be useful in case Babylon 6 doesn't work in Windows 7 and you don't want to activate the virtual XP resource hog all the time.