Still not supporting Windows 7? In the requirement page, I could see Windows 8 64 bit is required to run WP SDK8.0. why not supporting dominated Windows 7?
Because the Emulator is based on Hyper-V and Hyper-V is only available in Windows 8 and not in Windows 7. If you can live without the Emulator you could try this: http://forum.xda-developers.com/showthread.php?t=2422751