I am running Ubuntu 12.04 on my laptop right now and I also want Windows 7. I want to dual boot. I am unable to partition the disk because it's not possible to shrink the hard-drive. I saw a couple of YouTube videos for parting the hard disk and tried with Ubuntu LiveCD but it showed an error that it could not unpack it and I was unable to reach 'Try Ubuntu'. Please help!
If you were not able to run the live cd you may have created it wrong. How did you make it? Did you run the checksum on the iso file before burning the cd?
Boot SystemRescueCd and do partitioning / shrinking with Gparted. See usage howto in previous link to download.