I couldn't get GOG's version of "Myst Masterpiece" (1999) to run well in either Windows 7 or 8/8.1. GOG claims it works in Windows 7 and 8, but it kept crashing on my computer -- like every minute or two. It's possible that the boxed "Myst Masterpiece" would run in XP mode, since it's a 2D point-and-click and doesn't require 3D acceleration.
"Real Myst Masterpiece" (2014) is the "update" of "Real Myst" (2000), which is itself the "update" of Myst (1993) and "Myst Masterpiece" (1999).
Which is better? Some people like the colors of the original "Real Myst" (2000) or thought the remake looked too much like a generic FPS that used the same game engine and same lighting effects. I liked the way the fish were done in the original "Real Myst" (2000) better than how they were in the "Masterpiece" (2014) remake. Other people like the updated "Masterpiece" version (2014) because it has higher resolution. Since you have Windows 7, the updated version might be more apt to run.
"Real Myst Masterpiece" (2014) should run in Windows 7 as long as your computer meets the video card requirements.
The GOG version of "Real Myst" (2000) may work in Windows 7 if you follow the suggestions in the
***Windows 7 and Games*** thread:
Go to the Start menu and navigate to the realMyst program file, right click, choose "Properties" and click the tab "Compatibility".
Under Compatibility mode, check the box "Run this program in compatibility mode for", and change the drop down menu to "Windows XP (Service Pack 3).
Under Settings, check "Disable visual themes".
Under Privilege Level, check the box "Run this program as an administrator".
Once these settings have been applied, click "Apply" and "OK" to exit.
Then, go back to the Start menu and run the Setup for realMyst, and make sure that the settings are as follows:
*3D Hardware, choose "Direct 3D", and change the drop down menu to the Direct 3D HAL setting for your graphic card
Myst 5: End of Ages (2005) is a different game.
Dates are from Mobygames -- I didn't check my game boxes.
Myst (1993)
Myst Masterpiece (1999) 16-bit version of Myst, snapshot style
Real Myst (2000) 3D
Myst V: End of Ages (2005) 3D -- last of the series
Real Myst Masterpiece (2014) 3D