As of right now, announced on the Windows Live Blog you can go to Windows Essentials 2012 (Web install) and download the Windows Essentials suite which has Windows Photo Gallery 2012 as part of the package. This version runs on Windows 7 and Windows 8. This is build 16.4.3503.728.
We did a fair amount of work to make things just right on Windows 8 with this release. All of our services work really well also. My favorite new feature is the Auto Collage feature which makes basic and quick Auto Collages that I have found are great to share with family and friends. You have a good number of choices at to what size of collage you would like to have created. All you have to do is select between 7 and 50 photos and you are on your way to a great collage.
I also like the improved support for video rotation. With today’s smart phones there is a good chance that you have your video rotated the wrong way but with improved video rotation support in Photo Gallery you can fix that with one or perhaps two clicks of the rotate button.
PS. I wrote this blog post using Windows Live Writer 2012 which you can also get as part of the Windows Essentials suite.