I had the same problem. Although my main pc is still XP, my laptop is W7. I found the solution on another web site. I tried it and it appears to work, but you will need an XP pc with FO9 installed.
On the XP computer, copy the Family Origins folder (on the C drive under Programs) to a thumb drive or cd. You might want to keep this as an alternative to the install cd. Then copy this folder to the Program Files (x86) folder on the W7 machine. Before executing the program, you should find the FO9 executable (I believe it has the tree icon), right click, select properties, and set the compatibility mode to XP SP3.
After doing this, I was able to start the program and read the database. I haven't used it otherwise, but it seemed to work. You will probably have to add your own shortcut to the start menu.
Let me know if you have any questions. As much as I also like FO9, I think we might need to upgrade. I think Roots Magic was based on FO, and it can read the database. I will probably buy it soon just to make sure I con't loose anything.