I am using mIRC 7.48 and it does not open on Windows 7 nor on Windows 2008 Server.
When I double click the executable, the mouse cursor turns to waiting for a seconds and then mIRC does not open. In task manager, mirc.exe is not shown as running.
I have tried moving mirc.exe to a new empty directory and running as administrator.
mIRC 7.47 runs fine in all of these instances. I observed the same scenario in the beta 7.48, but I guessed it was something on my end.
The only thing I have changed in Windows that may have an effect is I changed the TMP and TEMP environmental variables to C:\TEMP