yes, it works, however it will not read the software off the CD-ROM. You need to download the software off the Full Throttle website. That was how my buddys was and that is what I read on the boards too. Let me know if you have any issues.
I am running PL and Vista, no problems. Like Sweet6 said it won't read the CD-ROM. There is also a new driver update on the Full Throttle site that has taken care of many of the issues associated with Vista. Use those drivers.