I just upgraded to Camera Raw and DNG converter 7.4. I also just started with a new computer with Windows 7 Pro.
My version of the DNG is 188.8.131.52
My camera is a Nikon D90
Using Photoshop and Bridge CS6
Computer is Windows 7 Pro
When I open the DNG converter, it asks where the images are to be converted. When I Select the directory the NEF files are in , it says no files match my search. This is with the camera memory card in a card reader. I also get this if I copy the NEF files from the camera card directly to a directory on the hard drive.
If I open Bridge CS6 and go to Get Images from Camera, it will see the memory card in the card reader and see the files, and they can be converted. BUT if I copy to the hard drive, there is no way I can find them and convert the NEF files to DNG!!!!! That sucks!!! and if I do convert them to DNG in Bridge from the memory card, when I open in Photoshop, I see they are camera raw 7.1. I thought I had installed 7.4?????
I know it sounds kind of weird. But you cannot open the folder that contains your raw files using the DNG converter. Simply choose the FOLDER that contains the files. Then the converter will convert all of the raw files contained within that folder.
And if you don't want to convert all, consider a batch file, like:
"C:\Program Files (x86)\Adobe\Adobe DNG Converter" -cr7.1 -dng1.3 -p0 %*
You can drop raw files onto such a batch file to convert them.
PS - As far as DNG contents are concerned, there is no difference between ACR7.1 & ACR7.4 (i.e. having the latest acr version only matters when there was a DNG-affecting change in that version).
Note: I recommend use DNG version 1.3 if you don't need DNG v1.4 (e.g. for lossy compression, or fast-load data) - why? for maximum compatibility with other apps that are not yet up to speed with 1.4 (e.g. exiftool, although Phil believes next release 9.25 will provide full support).