This answer is a bit late, but may help the next person ...
No, Windows 7 does not ship with an SMTP server. Presumably, the remote server administration tools include the SMTP server, but according to this link it does not work.
Some options for sending email from a Windows 7 machine:
For development purposes, I like smtp4dev https://github.com/rnwood/smtp4dev . It is open source and emulates an SMTP server. However, instead of sending email, it is stored in the application on the taskbar. Great for not spamming users by accident.
If you plan to send emails for real, I would recommend using an SMTP server with a static IP address, since most spam filters do not like dynamic addresses and block email.
I have not used it, but if you have to send an email from your local Windows machine and I do not care about SPAM filters, the free SMTP server from www.softstack.com seems pretty popular.
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