I don't know about Geneforge, but I just installed the Avernum trilogy from the CD on my new Win 7 computer. It had similiar issues installing from the CD as it is reported to have on Vista, I had to open the files and run the individual installers for the games instead of running the installer that autoruns.
In terms of playing the games would not play past the opening until I right-clicked on the game file and chose "troubleshoot compatibility" I let it choose recommended settings and it chose to run the games in Win XP and now they run fine. So I would assume any compatibility issues with the other games could be fixed in a similar manner using the "troubleshoot compatibility" function.
