Uhm, no.. Just, no, heh..
The Divx player/codec is pretty good, but RealPlayer is an awful piece of software in my experience. Far better to to a quick Google for "Real Alternative" which you can add to other players, or as furball mentioned, the K-Lite pack works wonderfully, and will play damn near everything, including realmedia and quicktime files. VLC is also an excellent multi-format player too.
If it's movie editing stuff you're after Trev, Pinnacle Studio used to be regarded as an excellent bit of software, and you could do so much with it. It used to come (usually in cut-down form) with video capture cards and the like. Sadly my current version is long out of date, and I don't know how it'd work with Win7, but have a look at
http://www.pinnaclesys.com for a trial of version 14.
Jim