The answer to this question depends on what using means to you.
As a user of the web application, yes, there should be absolutely no problem using a recent (as in: no more than 2 or 3 years old) web browser in order to take advantage of all the features available.
As a platform for running a LedgerSMB server, it's simply been too long since it has been last tested. You might be able to make it work at the expense of considerable effort. If you do, please comment on this FAQ or contact the mailing list to let us know about your process and results!
Those running a LedgerSMB server on the Windows platform - that we know of - do so with virtualization techniques such as VirtualBox.