Extract the Saitek_R440_Force_Wheel_SD6_64.exe file somewhere (You might need Winrar to extract the *.exe).
First you need to find out the hardware id of your steering wheel. Plug it-in, enter Device Manager, ActLabs RS (with a yellow exclamation mark next to it since it's missing its drivers.), Details-tab choose "Hardware IDs". (Mine was: USB\VID_061C&PID_C084&REV_0100 )
Open the driver *.inf-file i.e. Saitek_R440_Force_Wheel_SD6_64\FF04\SaiFF04.inf
Look for the title [SAITEK_MODELS.NTamd64]
Below that there's a line like this: %USB_NAME%= SAI_USB_Inst, USB\VID_06A3&PID_FF04
Replace everything after %USB_NAME%= SAI_USB_Inst, with your hardware id. This will make Win7 match the driver with your wheel.
So the end result will be: %USB_NAME%=SAI_USB_Inst,USB\VID_061C&PID_C084&REV_0100
After that, simply double click your Wheel again in device manager. Choose Driver->Update Driver and point Windows to the path where you've got your modified Saitek Driver.
That's it, you should be ready to go.
I noticed that one or two buttons including the one looking like a Nintendo-controller in the middle of the wheel didn't work. I guess that that can be fixed too but I didn't bother since I seldom use more than gas/brake/paddles and one or two more extra buttons.