...it's the most up-to-date Win7 in the World 
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That means it is Service Pack 1 
If you have the old x86 version and x64 versions, it's inevitable that shenanigans will happen. If you go in services.msc, you'll see how the services listening on 127.0.0.0 will overlap each other.
Python isn't required for the latest tool pack as this time around the installer has been created and compiled on a Windows 7 PC by MIT. aiStarter.exe is built with Python, but the build is completely self-contained.
They would have to be running at the same time though, and on identical addresses (new one is on 127.0.0.1) when we were early testing the new version, we did not have to uninstall the old one. I have however uninstalled it to be 100% sure there is no interference.
But what about the new BETA emulator ?
Hello Gordon the Power User - congratulations!
That is the old version Emulator you have there - did it load a Project?
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There isn't a new BETA so far as I know - the new Emulator is a full release and that's it for now.
You ended up with the old emulator, from a directory that should have been cleaned out during the install of the new emulator.
My install experiences were logged at
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Yes it did.