I decided to just try out the manual Software Restriction Policies update described here:
http://www.bleepingcomputer.com/virus-removal/cryptowall-ransomware-information#manual
The only difference I noted was that for Windows 7 you can just go to Administrative Tools->Security Configuration Management instead of typing in Local Security Policy in the Start Menu search.
The steps to add the 8 new rules were very easy. I’m not sure how the changes will impact my system, but we’ll see how things go.