Using GAG Boot Manager with Win 7?

I've been smoothly using GAG 4.10 for a few years on my main PC, nicely set up with two separate WinXP loads.

Now I want to add a third load for Windows 7. Can GAG 4.10 handle this? If so, how do I do it - given that I already have GAG installed & set-up with two WinXP loads.

Here's what I was going to try:

1) Add a new blank partition to my system hard drive (using Windows XP; it will be the "last" partition on the disc, as I have plenty of unused/unpartitioned room at the end of the drive);
2) Reboot, and then "add" that blank partition using GAG (using the "Add Operating System" command);
3) Reboot, and then choose to start that new OS (even though the partition won't load anything, because it's blank)
4) Reboot, go into motherboard BIOS and choose to boot from CD (rather than hard drive);
5) Reboot with Windows 7 install disc in CD drive.
6) Install Windows 7 to new partition.

Will that work? It's been a few years since I've used GAG, so I'm very rusty with it. Tried asking this over on GAG's sourceforge support page, but it doesn't appear that's monitored much anymore. Thanks in advance!