It depends:
1) Are you using LabVIEW RT? Or will your LabVIEW 7.0 application run on a PC?
If you are planning on using LabVIEW Real-Time 7.0, then you cannot use the cFP-21x0 controllers. cFP-21x0 controllers support LV RT 7.1 and higher. If you are using a [c]FP-20x0 controller, then you are OK because they are compatible with LabVIEW 7.0.
If you intend to run your application on the PC and use a cFP-180x network interface (or if you use a cFP-20x0, cFP-21x0 controller as a network interface), then you can use LabVIEW 7.0.
2) NOTE: You will need to download FieldPoint 5.0 drivers (or older) from ni.com to get
LabVIEW 7.0 support. The latest FieldPoint driver installer
(FieldPoint 5.0.1) that ships with the hardware installs support
for LabVIEW 7.1 and higher.
-Tommy