No, Windows 7 (and in fact all of the mainstream Windows releases) are not Real-time operating systems. To clarify what is meant by a real-time operating system:
A real-time operating system (RTOS) is an operating system (OS)
intended to serve real-time application requests. It must be able to
process data as it comes in, typically without buffering delays.
Processing time requirements (including any OS delay) are measured in
tenths of seconds or shorter.
A key characteristic of an RTOS is the level of its consistency
concerning the amount of time it takes to accept and complete an
application's task; the variability is jitter.[1] A hard real-time
operating system has less jitter than a soft real-time operating
system. The chief design goal is not high throughput, but rather a
guarantee of a soft or hard performance category. An RTOS that can
usually or generally meet a deadline is a soft real-time OS, but if it
can meet a deadline deterministically it is a hard real-time OS. [2]
An RTOS has an advanced algorithm for scheduling. Scheduler
flexibility enables a wider, computer-system orchestration of process
priorities, but a real-time OS is more frequently dedicated to a
narrow set of applications. Key factors in a real-time OS are minimal
interrupt latency and minimal thread switching latency; a real-time OS
is valued more for how quickly or how predictably it can respond than
for the amount of work it can perform in a given period of time.[3]
Note that most of the time real-time operating systems are less efficient (i.e. have lower throughput), which is why none of the mainstream operating systems are real-time (e.g. real-time editions of Linux use completely different kernels) - its only worth it in cases where timing at a very precise level is absolutely critical.
Windows CE is a real-time operating system Real-Time Systems with Microsoft Windows CE 2.1