I'm having a few issues with this process myself. However, I have got past this point. I am not sure why you are having issues, but I can say it is not Windows 7 64 bit directly that is causing the problem. I run that O/S and had no issues with eclipse running. I also did not set ANY compatibility options, I just ran it.
Have you followed this part of the guide?
You may also need the JDK available from http://www.oracle.com/technetwork/java/javase/downloads/index.html if you are not using the Windows installer version of the Android SDK below.
I'm pretty certain the Android SDK I downloaded was just a rar, rather than an installer. I could be wrong, but it's worth a try if you haven't already installed it.