I don't have it on Windows 7 32 bit.
I have tried to get it with my onboard sound (Sigmatel) and also with my separate sound card (Creative Labs Soundblaster Live 24 Bit).
No dice, with various drivers
This means I cannot record what I am hearing over speakers.
If you hear of a solution, advise. I expect this is due to the sound card rather than Windows 7 because I know of at least one person who still can record what he hears--he has a rather expensive sound card.
I would love to hear from anyone who has got "what you hear" recording going on Windows 7.
What sound card were you using on 32 bit when it worked?