_But does it work_?

Official support doesn't mean much if you ask me. Having actually filed official bug reports and been given the 6month run around I can't see what it buys me.

All I want to know is Is it functional and Stable on a Win 7 host!

Have you tried bridged networking?
I've read early reports of problemss in that area.

Also not supported is Ubuntu 9.04, the latest OpenSuse release and the very latest Red Hat release.

http://pubs.vmware.com/ws65_ace25/ws_user/wwhelp/wwhimpl/common/html/wwhelp.htm?context=ws_user&file=intro_sysreqs_ws.html

The point is that if you wait till VMware officially announces support, you are often half way to the next release of the Host OS.
Certainly this is true of Linux.

Windows 7 is available to developers (msdn/technet) and in fairly wide circulation among this group due to
the fact they have to test products under it, and so far, it performs MUCH better than Vista on the same hardware.

So most of us are willing to try it as long as key features of Vmware work, not the least of which is
networking.

Go play with those while you wait. You will be back soon enough.

For all its minor failings, nothing I've used can touch Workstation, and I've tried most of them.

I have mine thru MSDN as well. As a GUEST, Win 7 outperforms the Vista host. (Go figure).
So I have high hopes for Win7 as a host. But, like you I can't cut over till I know it will work.

Where is Workstation 7, Craig??

"RC" means Release Candidate. Which means it's still in the testing phase and not a General Availability (GA) version, which is the fully supported, open to the public version. Some companies have open public RC and beta editions. VMWare does not and you would normally have to be invited into the beta program. So you will have to wait for the Workstation7 GA, whenever that is released.