That's because there's nothing for it to do (though it's actually a really fast install regardless).
This article explains what it does: http://www.intel.com/support/chipsets/inf/sb/CS-030865.htm
Do I need to install the Intel Chipset Software Installation Utility then?
The best rule of thumb is that, unless you are installing an operating system, you don't need to install the Intel Chipset Software Installation Utility. If you do install the Intel Chipset Software Installation Utility after installing the operating system, and the installation program recognizes that some or all of the product names in Device Manager match the product names in the included INF files, it just won't install those INF files.
In the case of Windows 7, the product names in Device Manager all match the product names in the included INF files, so it doesn't need to do anything.
Sorry .. but if you're running into audio/visual sync issues, the chipset INF is not going to help .. (maybe if you start a thread listing your specific issues, someone can suggest something that might help?)
Because of some intended functionality, generic Windows 7 drivers match the names of updated intel drivers. However, if you want to take advantage of the newer intel drivers, you will have to extract the installer and update each driver in your device manager using the location you extracted the installer.