Mike,
>I am interested in creating a VB.Net component and having my VFP 7 app run it. I have no clue how to do this or where even to start, so can somebody point me in the right direction? Thanks!
Rick Strahl's white paper on COM Interop has a section called "Accessing .NET Components from VFP" that would probably show you the way:
http://www.west-wind.com/presentations/VFPDOTNETiNTEROP/VFPDOTNETINTEROP.HTM