Of course, and I wouldn't recommend it. Part of the problem is that Metro apps are optimized for horizontal scrolling, which is broken on a standard mouse, which has evolved over time to only accommodate vertical scrolling.
I'd recommend staying with Windows 7 for anyone who uses a mouse, and wait and see if Win 8.1 resolves any of this.
Although, just to reiterate my point (since it has been lost by now), I don't think everyone should move from Windows 7 to Windows 8 - but I do think Microsoft made the right business decision to target new growth markets over established markets that don't value new change - and I don't think it's worth getting upset over it if you're a happy Windows 7 user today. Just don't upgrade until a version of Windows comes out that advances your PC usage.
By the way, I don't necessarily accept the idea that Windows 8 has stunted Intel's business. I think if there's demand for a desktop replacement, they can upgrade to a Haswell, and still run Windows 7. And when it comes to new laptops, going to thinner and lighter form factors with touchscreens would make a Windows 8 experience a great one. Therefore, I don't think Intel sells a product where the choice of OS plays a part in whether someone buys it or not.