Answer to both is yes. But it's more than just right clicking the application icon and then selecting "Run as Administrator." There is a bunch of steps primarily turning off the Vista "UAC", selecting another folder OTHER than "Programs" to install into, and selecting the setting to run "compatibile with XP Pro."
The author of the link lays it out pretty well.
This involves other game compatible programs such as TeamSpeak, and TeamSpeak Overlay. He lists a few other applications. Nice cross references for background also.
"This must be done for all of your applications �.EXE�
Il2 1946 il2fb.exe, il2setup.exe, Ngen.exe
HyperLobbyPro3 hlpro.exe, aping.exe
Teamspeak2_RC2 TeamSpeak.exe
TSO tso.exe"
I posted this in case you or TS Techs wanted to check the Vista fiasco out with what someone has discovered.