If you google mousefix windows 7, you should find something that will make sure EPP doesn't enable itself. Don't think it does in M&B though but probably no harm in installing it.
You don't really need to if you untick "enhance pointer precision" though I think. But in XP people do that as well as download a registry tweak that attempts to remove all traces of accel (mousefix). The ones for Win7 probably aren't necessary, I think they just make sure EPP doesn't enable itself in some games. Don't have anything installed myself, not even mouse drivers. Just EPP off. Worth checking your mouse drivers though, see if you have a program that overrides windows sensitivity and enables some acceleration