Im running bootcamp Win7 x64 on a 27" imac. I have no problems with games, tried battlefield bad company 2, sims3 and trackmania nations and no problems what so ever with install or running the games.
Have you installed all updates in win7?
*edit* You could try to right-click the installer and chose "run as admin", might be UAC (user account control) that is messing with you.