Dual boot with windows 7!
Solution 1:
It's safe to have Ubuntu dual boot with Windows 7. I have them both running safely. More info: https://help.ubuntu.com/community/WindowsDualBoot
Solution 2:
Yes it is safe.But please keep a backup of your windows in case if something goes wrong.
Make sure that you do not play with partitioning.
Watch this video for instructions : http://www.youtube.com/watch?v=3C7yINJQKW0
Yes, you are.