Well most stuff is probably user configurable. First is how fast it sleeps, even with the A/C power plugged in. And don't get me started on hibernation! WHY?
Well, that's pretty easy to configure. You can just go to the power settings (If it's a laptop, which I would assume from the AC comment, right click on the battery icon in the bottom right and go to "Power Options", otherwise go to the start search and type "power options" and it should be the first thing to come up). The screen should look something like this:
You can change the settings for each of the power plans (typically, there will be 3 plans: balanced, power saver, and high performance). The basic screen looks like this (in a laptop, there will be separate options for what it should do on battery and on AC - mine doesn't have this because these screenshots are from my desktop):
If you configure different settings for various power plans (for example, balanced and power saver), you can then switch between the plans just by clicking on the battery icon in the bottom right of the screen, which is nice for laptops depending on whether you want to conserve battery life or have more performance. You can also go into the "Advanced Power Settings" to gain access to more detailed options, ranging from advanced processor power management to whether it shuts off the hard drives if the system has been inactive for long enough.
Also why do I have to keep entering my password every time it goes to sleep?
This is also easily settable. In the same "Power Options" screen as above, there is an option on the top left that says "Require a password on wakeup". If you go into that setting, you can disable the requirement for a password when you wake from sleep. You can find a similar setting in the screensaver options, where you can set whether it will lock the computer (requiring a password to get back in) when it goes to screensaver.
It's hard to find downloads, but only sometimes. Can't figure that one out.
This depends. I'm familiar with Firefox, but I can't help you with IE. If you use Firefox (which I would highly recommend), then you can go to the "Tools" menu, and click on "Options". One of the options on the first page that comes up is the option to set a default download folder, or to always ask the user where they would like to save the file.
Also note that if you tell FF/IE to "open" rather than "save" the file, it will download it to a temporary directory so you can open it. If you want it saved in a permanent location, you're better off telling it to save the file rather than open it.
If I download a program, why does it not unzip it and start the instaler?
If the program is an .exe or .msi, and you tell FF or IE to run the program rather than save it, that's exactly what should happen. If you tell it to save the program (since usually on downloads, you have two options, save and run/open), it won't run it because you didn't tell it to run it. You should just be able to double click the .msi or .exe in the downloads window though, and it will run. If it's a .zip, windows does not automatically run an installer because not all .zip files (or other archive types) are programs. In that case however, you should just be able to open it as a folder (windows natively supports several archive types, and for those that it does not support, I recommend 7-zip). Once you've opened it, you can just run the .exe within the folder and everything should work fine (you may need to extract the entire folder to install properly - windows should prompt you if this is the case).
If I leave my cursor on something for more than a few seconds, it opens it.
That's odd - that's certainly not the default behavior. Will it actually open programs and folders this way, or will it just switch to an already-open window? If it's the first, I don't know how to fix it, but I'd check the touchpad and mouse drivers, but if it's the second I do know how to fix it (it's buried in the settings).
I can't drag my touchpad to scroll.
This would be in the touchpad drivers - check to make sure you have the latest drivers, and then look in their settings. The specifics depend on the touchpad, so I can't say much more without either knowing the exact model or being able to play around with the system for a bit.
So far it seems stable, and looks cool. But I don't think it's as good as OSX, and not even close to Ubuntu.
Of course thats just my opinion.
Of course. I've found that with operating systems, it's very much about what you're used to, and it certainly is primarily opinion. That having been said, I like Win7 and Ubuntu both very much (but I don't care that much for OSX).