MCMS 2002 is no longer under mainstream support... See http://support.microsoft.com/lifecycle/?p1=1567
Since Windows Server 2008 (and IIS7) were not released at the last service pack of MCMS (SP2), that scenario would obviously not have been tested. However, it *should* run on IIS7 in IIS6 Compatibility Mode. But if it doesn't, or only partially works, you wouldn't get any support, and I've not tried it myself.