Creating projects does not work unless the project is complete empty. You can't use existing code bases or remote folders and anything of that nature.
Even creating a new blank project and creating the files manually has issues. When I try to close the project it just goes into a "Closing Project" window and does a process called "Building Workspace". Creating projects and opening and closing projects was fully supported on the non-eclipse versions.
Has anyone been able to successfully use Zend Studio on Windows 7? This is a nice quad core PC with an experience index of 7.9.