Does this program found in System32 still work in Windows 7?

Hello. I was just curious today, because back in 2011, I found an old program I remember using in Windows 98. It was in the System32 folder. The program is called "DIALER.EXE". Now, would this work if you don't have a modem, but you do have a house phone hooked up to your PC?

Example of setup: Blocked
(image credit: overview for Iusewindows7)

I'm just now asking for 1 word.

"Curiousness"