I have recently re-installed the game under Win7 on a new computer. I installed Random's naval mod as well. I have the most recent patch installed. The game has frozen up three times during the first turn. Each time at a different point - the first two times during the diplomatic phase when I went to look at messages, but the third time during the military phase while I was moving units. There doesn't appear to be anything useful in the logs.
"There is no substitute for victory"
Depends on how you define victory.