Terminal emulator with split panes for Windows 7 (64 bit)

I'm the author of another terminal - ConEmu (open source). This answer describes how to run 2x2 grid on startup. Actually, any configuration of splits (up to 30 panes) can be configured. Also, each split can be run as different users or elevated (Vista and higher). Any console and simple GUI (like mintty/putty) applications may be run in ConEmu tabs.

How to create a split?

1) From create new console dialog. Just press [+] button on toolbar or WinW. Choose your app, working dir, user name and split configuration.

2) CtrlShiftO and CtrlShiftE split active shell vertically or horizontally. Press WinAltK to see full hotkeys list.

3) Save your configured split-panes into new named task to get it on fast access next time. Open Settings dialog WinAltP and go to "Tasks" page. Add new task (+ button) and press Active tabs. Your task will be filled with your current split configuration. Don't forget to Save settings. For example

>cmd -new_console:n
powershell -new_console:s1TVn
sh --login -i -new_console:s1THn
putty -load mysrv -new_console:s2THn

Another free alternatives

ConsoleZ (fork of Console2)

Alternative Windows Console

I just saw this mentioned in another answer, and remembered that you were looking for something like this.

PowerCmd

I just use Console2 with TCC/LE and PowerShell, myself.

I've looked around and have settled on mobaxterm. It is a simple windows install but pulls in the features of terminator and winSCP. I'm pretty happy with it but would be pleasantly surprised to find a better windows based terminal to keep me connected.

http://mobaxterm.mobatek.net/

The Terminator from http://software.jessies.org/terminator/ requires installation of Cygwin, which is a bit more work than using ComEmu