Don't worry I'll help out here:
For the Lifecam VX-3000
1. Download, extract and install the Windows 7 Lifecam Drivers from the link
2. Once installation is finished you should have your USB Camera plugged in and that compatibility issue coming up.
3. Cancel everything and go to device manager (Right click computer -> Manage -> Device Manager)
4. You should see under imaging devices your webcam but with a yellow sign on it.
5. Right click it and go to update driver software
6. Click Browse your computer... and then click let me choose... there should be a button saying "Have Disk", Click on this and click on browse...
7. Locate the downloaded and extracted folder and go to:
LifeCam edit\setup\microsoft lifecam\driver64\vx3000
8. There should be a vx3000.inf file there, open this and click ok, you should see the driver listed, click ok and you will be asked if you want to install this driver warning by Windows, click Install Anyway and another compatibility error will come up, ignore this.
9. Check back on device manager if the yellow sign is on the webcam anymore, if not then everything is working fine.
Enjoy your cam.
I hope this quick little step by step will help a lot of you out.