The answer is: maybe. 64-bit XP will run just fine on an i7. However, laptops use a lot of proprietary hardware, and unless you can get 64-bit XP drivers for that hardware, it won't work. In some cases you will be lucky and XP itself will supply some default drives that provide basic functionality (example: video driver for 640x480 or 800x600 screens). In other cases, the hardware will be completely unusable (NIC
cards come to mind).
Also, saying you get a "blue error screen" doesn't give us any clue as to what you are seeing (other than it is blue). It would be best if you posted the error text or took a picture of the screen and posted it.