I got this question recently, so i figured i would make a step by step how to do it.
The problem is you are using the new firewire driver that comes with windows. The firepod isnt the problem per se, the problem is windows 7 isnt even seeing it.
So, we have to change a few things. I suggest uninstalling the firepod stuff so you can start clean.
Next, go to your device manager via control panel/Hardware and Sound/Device manager - if you get a UAC warning, say yes and ignore it.
in the device manager you will likely see some form of 1394 controller. Sometimes it can say "ricoh" or "texas instruments" along with it. Here's my screenshot:

click the little arrow next to it and it will expand.

mine is correct - it says "(legacy)" next to it. Yours likely doesn't if you are having problems with the firepod showing up or working anywhere near properly.
double click on that entry and go to the "Driver" tab

Click "Update Driver..."
Select "Browse my computer for driver software"

then select "Let me pick from a list of device drivers on my computer"

Select the 1394 OCHI Compliant Host Controller (Legacy)

it should say: Windows has successfully updated your driver software

now, install the firepod as normal.
make sure you are installing version 2.46 or later and have all the latest firmware.
the firepod is the most stable of all of presonus' audio interfaces. Please petition presonus to continue supporting this device, which works excellently and is far from being outdated.
keep in mind that if and when presonus gets their acts together you may have to revert to the other firewire (1394) driver. Its the SAME EXACT process, just dont pick the driver with (Legacy), pick the Texas instruments one, or if thats not available, the OHCI one.