I've had Home Studio 4 running on my Windows 7 machine for quite some time. Recently, I had to reinstall Windows, and I reinstalled HOme Studio too. Now every time I launch--or try to launch--Home Studio, it crashes Windows and gives me the blue screen of death. The same thing happens when I try to launch Home Studio in Windows XP compatibility mode. Any help getting Home Studio running again would be much appreciated.

Were you running 64-bit or 32-bit Windows 7 before you re-installed it? Do you have 64-bit drivers for your audio interface?
 
 
 

Home Studio 4 is not guaranteed to work on Win7.  It was obsolete before win7 ever came out.
 
having said that, I would think that it probably would work under win7x32, but it might have issues on 64bit.
 
 

What does the blue screen say other than blue?
Have you tried installing home studio under compatibility mode?
http://windows.microsoft.com/en-us/windows/make-older-programs-run#1TC=windows-7
Have you tried installing home studio by running the installer "as administrator?"
http://windows.microsoft.com/en-us/windows7/installing-programs-frequently-asked-questions
expand Do I have to be an administrator... An administrator account is not the same as "run as administrator."

Double check this. but I think you qualify?
If so $20 is a stupid price and I suggest you take advantage of it.
 
http://www.store.cakewalk.com/b2cus/ProductInfo.aspx?productid=10-CXSR3.00-30E

The $19.99 upgrade price is for ANY registered Cakewalk user, so he would be qualified for the upgrade.
 
I HIGHLY recommend that you (the original poster) take advantage of the fabulous sale price for the basic version of X3.  It will most DEFINITELY run in Windows 7.
 
I suggest you launch the X3 installer with the explicit Run As Administrator (not just from an Admin user), and also, once it is installed, download and install the latest X3 maintenance, which is X3e.  (it is cumulative, so you don't have to install each of the other maintenance updates, such as x3b, c, or d).
 
Best of luck with all, 
 
Bob Bone
 

+1 to the upgrade. X3 is the same core program between all versions (Basic, Studio, and Producer) and runs like a top on my Win7x64 machine. I had HS4 way back when and the upgrade will be like night and day to you.

See this is so good now that they have merged the forum. In the past this post in the home studio forum would have received possibly 1 reply and sometimes days apart. 
And to add- there really is no reason not to up grade at the prices they offer. You can only cling to old software to a point. If your not sure, download the demo but for $20 I'd just do it! . 
The X series is different in a lot of ways but it didn't take me that long to be able to do the basics. It is still Cakewalk in most of it's layout and most the buttons and gizmos remain the same as always. 
Editing is where it has changed the most.