Yes the config came up during the game conversion one time and all the settings looked fine. Here's the log:
FF7 GameConverter, Version Bootleg Configurator
Creator: Kompass63
Editor: EQ2Alyza
Start running at    Date: 2014-05-03    Time: 15:55:01.39 
Active code page: 437
ActualPath C:\Users\Eric\AppData\Local\Temp\7ZipSfx.000
You are running "Windows 8 Pro" on a 64 Bit Operating System (AMD64)
Real Management 32Bit WOW64
This patch is not yet applied.
Steam is installed in "D:\SSF_012_beta_R3\Steam\steamapps\common\FINAL FANTASY VII"
Installation path found at...
"D:\SSF_012_beta_R3\Steam\steamapps\common\FINAL FANTASY VII"
If an installation path IS found, press ENTER.
If an installation path IN NOT found, TYPE IT IN and press ENTER.
Copying Registry Keys...
Removed CompatFlags from "ff7.exe"
Removed CompatFlags from "ff7config.exe"
Set own Registry Keys...
HKLM\SOFTWARE\Square Soft, Inc.\Final Fantasy VII\GameConverterkeys
Setting language to en...
Detecting drive letter for FF7 Discs...
Drive letter for FF7 Discs     G:\ 
Movies path found at...
"D:\SSF_012_beta_R3\Steam\steamapps\common\FINAL FANTASY VII\data\movies\"
Copying English Files...
Copying 1.02 patch for ff7.exe...
Copying Aali's Custom Driver, version 0.7.11b...
Creating Final Fantasy VII Icon...
Creating FF7Config Icon...
Adding more Registry Keys...
Adding Registry Keys to HKLM\SOFTWARE\Square Soft, Inc.\Final Fantasy VII
Adding Registry Keys to HKLM\SOFTWARE\Square Soft, Inc.\Final Fantasy VII\1.00\Graphics
Adding Registry Keys to HKLM\SOFTWARE\Square Soft, Inc.\Final Fantasy VII\1.00\MIDI
Adding Registry Keys to HKLM\SOFTWARE\Square Soft, Inc.\Final Fantasy VII\1.00\Sound
Adding Registry Key to HKLM\SOFTWARE\Microsoft\Windows\CurrentVersion\App Paths\FF7app.exe
Please check over the settings for FF7Config...
1) Graphics tab should have "Custom driver" set for the Renderer.
2) Sound tab should have a Sound device set.
3) Perform the Sound and MIDI tests.
Adding UAC Registry Keys to HKCU\SOFTWARE\Classes\VirtualStore\MACHINE\SOFTWARE\Wow6432Node\Square Soft, Inc.
Inserting Multi.dll, Hext.dll, and Languagefile...
Patching FF7anyCDv2...
Install the Laptop Keypad patch?
(Only necessary if keyboard does NOT have a NUMPAD)
NO 
Installation complete.
called with ""C:\Users\Eric\AppData\Local\Temp\7ZipSfx.000\FF7_GameConverter_BC.bat""
Arguments: "C:\Users\Eric\AppData\Local\Temp\7ZipSfx.000\FF7_GameConverter_BC.bat"
PROCESSOR_ARCHITECTURE:          x86 
PROCESSOR_ARCHITEW6432:          AMD64 
Actual Path:                     C:\Users\Eric\AppData\Local\Temp\7ZipSfx.000 
Product Name:                    Windows 8 Pro 
Architecture:                    AMD64 
Running in Modus                 32Bit WOW64 
OS Bit Version                   64 
Reg-Keyname Steam                HKLM\SOFTWARE\Microsoft\Windows\CurrentVersion\Uninstall\Steam App 39140 
Reg-Keyname Re-Release           HKLM\SOFTWARE\Microsoft\Windows\CurrentVersion\Uninstall\{141B8BA9-BFFD-4635-AF64-078E31010EC3}_is1 
Reg-Keyname 1                    HKLM\SOFTWARE\Square Soft, Inc. 
Reg-Keyname 2                    HKLM\SOFTWARE\Microsoft\Windows\CurrentVersion\App Paths\FF7app.exe 
Reg-Keyname 3                    HKCU\SOFTWARE\Classes\VirtualStore\MACHINE\SOFTWARE\Wow6432Node\Square Soft, Inc. 
Steam Release is present:        Yes 
Steam Release Path:              D:\SSF_012_beta_R3\Steam\steamapps\common\FINAL FANTASY VII 
Re-Release is present:            
Re-Release Path:                  
Original Release is present:      
Original Release Path:            
Destination Path:                D:\SSF_012_beta_R3\Steam\steamapps\common\FINAL FANTASY VII 
Source Path:                     D:\SSF_012_beta_R3\Steam\steamapps\common\FINAL FANTASY VII 
Videos Path:                     D:\SSF_012_beta_R3\Steam\steamapps\common\FINAL FANTASY VII\data\movies 
Original Videos Path:             
Original Language                en 
Converted Language               en 
Original Drive Letter:            
Converted Drive Letter:          G:\ 
and now clear up Variables...
Ending at           Date: 2014-05-03    Time: 15:56:13.54