OR, you can right click /Aurora -> Properties -> Security and give yourself (Users) access
Second, Win7's UAC isn't nearly as intrusive as that of Vista, and everything I've heard says that it's a damn good thing that Microsoft implemented some minor amount of security.
Yes, you have to run it as administrator, and no, not everything. In fact, I've found very few things need it. As for Compatibility mode, you might want to try that, but I don't know if it's necessary.