As long as you don't have XP or Vista, yes.
Sorry but I do not understand what XP or Vista has to do with my question. Stated another way, my question is, does the version of ACR that comes with the version of PSE 12 that is available for purchase at this moment definitely support Canon 70D RAW files?
FWIW, I am running Win 7 Pro 64 bit so PSE 12 will run on my system.
PSE 12 comes with ACR 8.0. Since you have win 7 you can go to Help>Updates in the editor and get 8.2, but adobe has cut off Vista and XP at 8.0 (Not just in PSE; in all their programs that use the ACR plugin).
Thanks. That is clear. It never occured to me that Adobe might have changed the OS requirements for ACR.