Visual Basic 6.0 will be supported under Windows 7. That means ten more years of runtime being shipped with OS and all applications "just working". This support is for runtime and supported runtime files (mostly those that came with it). There is no support for controls that were not part of VB 6 delivery (some VB 5 compatibility files).
Development environment (IDE) hasn't had same fortune. It's officially supported life already ended but it does work fine on Windows 7 beta 1. I just hope that it will stay like that for final version also.