Here are some comments:
1. It does detect USB drives fine. This is good.
2. It does properly detect all my network cards and can surf the internet. This is amazing.
3. Serious shortcoming imo: unlike real pe 3.0, it does not support unlocking bitlocker drives:
a. Selecting "bitlocker" from the control panel's "system and security" section results in this error:
"page failed to load"
b. going to the command line (cmd.exe) and running
c:\windows\system32\manage-bde.exe with the -status parameter (or any other parameter) results in "provider load failure, code 0x80041013." manage-bde.exe is used to unlock bitlocker drive (bde = bitlocker drive encryption).
I suspect correcting #3 is just a matter of copying some files from the win7 dvd but I could be wrong. anyway, I don't know how to do it but it prevents this from being too useful (every important data I have is inaccessible without bde tools).
update: note that bitlocker is available in only the enterprise and ultimate versions of windows (I have both). The enterprise eval version is made available to everyone by microsoft; link provided at the very bottom of this post.
The best way to see the difference in behavior is to boot a Windows 7 ultimate or enterprise install dvd (unselect/dehighlight all windows installations to repair in the list given, hit next, then open the command prompt). Note that win 7 install dvd automatically prompts to decrypt a bitlocker drive (asks you to provide the key) but that is not an essential feature--as long as there is some way to do it manually or otherwise from the nativeEx7 disk.
This is perhaps the most significant difference between true vista pe environment (2.x) and true win7 pe (3.x).
4. TrueCrypt add-on is OLD version, 6.1--they're up to 6.3a. So that should be updated. The downloader didn't seem to find a newer version.
I ask because I couldn't find any apps under the nativeex7 folder (on the disk) but it still built all the apps in (as seen in the logical tree shown in winbuilder). In fact my nativeEx_Win7 folder doesn't have an app subfolder though the other projects do, win7rescuepe has an "apps" and win7pe has an "app" (singular) subfolder.
update: just saw this so ignore #5.
nativeEx_Win7 currently consists of only script.project and two scripts. Everything else is 'stolen' (by links) from the Win7RescuePE project. Therefore, if you want to test nativeEx_Win7, you previously have to download and configure Win7RescuePE
update: fyi for the source, I used an eval version of win7 x86 rtm enterprise from microsoft, still available for download: