I have managed to get every version of 4NT to work on Windows 7, with the exception of version 7.
You either need to draw registry scripts or brand it in a 'run as administrator' session. The main version of 4NT and TC32 i run is 8.02.070 in the INI_KEY form. It creates a key-file in the directory and does not use the registry. It helped me through a few times when tcc did not like my setup etc.