Vista compatible?

Its depends on Vista.

Its not really something that old applications can control if Vista says no you can't do that.

Its not just MMF2 applications -- its any application they all have to play under the Vista rules or they won't work.

There is really not a lot that can be done if Vista breaks the way windows operated in the past.

You may have performance issues with any extensions that rely on OpenGL (because Microsoft is intentionally making OpenGL support in Vista horrible to push DirectX to developers), but aside from that I doubt you'd have any problem with MMF2 stuff on Vista.