Similar specs to my rig so yeah, I have an i7 920 at 3.1 and HD6970. For the Bluetooth adapter, I use this one...
http://www.amazon.com/gp/product/B001D8CCYK/?tag=neogaf0e-20
Works under Windows 7 *without* having to install additional driver software. Plug and play. I've had no connection problems either and MP+ works flawless.
Dolphin itself requires a bit of tinkering with the settings to get working 100%, and some builds work better than others for certain games. It only took me like 30 mins to get everything setup though, if that.