I'm running 64-bit Win7 and here are the errors I'm getting after running the updated script you provided -
PS C:\Program Files (x86)\F5 Networks\iControlSnapIn> .\setup.ps1
Registering iControlSnapin.dll on platform ''
Microsoft (R) .NET Framework Installation utility Version 2.0.50727.4927
Copyright (c) Microsoft Corporation. All rights reserved.
Registering iControlSnapin.dll on platform '64'
Microsoft (R) .NET Framework Installation utility Version 2.0.50727.4927
Copyright (c) Microsoft Corporation. All rights reserved.
PS C:\Program Files (x86)\F5 Networks\iControlSnapIn> get-pssnapin -registered
Name : iControlSnapIn PSVersion : 2.0 Description : iControl Snap-in for F5 Device Management
PS C:\Program Files (x86)\F5 Networks\iControlSnapIn> add-pssnapin -icontrolsnapin
Add-PSSnapin : A parameter cannot be found that matches parameter name 'icontrolsnapin'. At line:1 char:29 + add-pssnapin -icontrolsnapin <<<< + CategoryInfo : InvalidArgument: ([Add-PSSnapin], ParameterBindingException + FullyQualifiedErrorId : NamedParameterNotFound,Microsoft.PowerShell.Commands.AddPSSnapinCommand
PS C:\Program Files (x86)\F5 Networks\iControlSnapIn> get-icontrolcommands
The term 'get-icontrolcommands' is not recognized as the name of a cmdlet, function, script file, or operable program. Check the spelling of the name, or if a path was included, verify that the path is correct and try again. At line:1 char:21 + get-icontrolcommands <<<< + CategoryInfo : ObjectNotFound: (get-icontrolcommands:String) [], CommandNotFoundException + FullyQualifiedErrorId : CommandNotFoundException