Yes, it will work with the 7970. You need to make sure you grant your user account control over your new phone. This gets done by the phone's MAC address and not your directory number, so this has to be done any time you trade out a physical phone. The Owner field shown on the phone configuration page is not the same thing and does not have the same effect.
From CCMAdmin, go to the User menu, Global Directory, look yourself up and go to Device Associations. From there you can look up your new 7970 and give yourself control over it. You will likely need to restart your computer after updating CallManager, in order to pick up the new CTI lines.
