I have been alerted to a few bugs with TYPO3 in IE7 and am working to resolve them. As you discover things that seem "odd," please let me know.
One known difference from IE6 to IE7 is that the context menus are displaying at the top of the window. Observe the old way and the IE7 way, below.
TYPO3 context menu (old way)
TYPO3 context menu (IE7 way)