We are planning to spend 7 days in Costa Rica but all of the vacation packages I've seen require us to travel all over staying at one hotel one and then another hotel two days etc. My question is if we stayed in the Punteranas area would it be feasible to still take tours and see Monteverde Forest, Arenal Volcano, etc. I've heard that it can take a while to get around. We'd really like to stay in one hotel on the beach and take each day as it comes and not have to worry about running around every day. Thanks for your help.

It is not reasonable to day trip to Monteverde or Arenal from Puntarenas. Most of etc. is probably out of the question as well.
You be better of moving 2 days at the beach 2 days Monteverde and 2 Arenal, otherwise from San Jose any hotel will organize you day tours to different attractions, by the way puntarenas is not a nice place to spend 7 days on the beach, I'd recommend Manuel Antonio or any beach on the north Pacific in which case better fly into Liberia Airport you'll save a days travel.

What are your travel dates? Some people are flexible enough so that they can travel to CR when their points of interest are experiencing the most favorable weather, while others need to be flexible about their destinations to work around the weather. So...
San Jose is "The Hub." There are more tours and flying options out of San Jose than any other major destination. See this ACRT website for some ideas. Most hotels can arrange these trip located on this site.
Tours are a great way to see, learn, and experience Costa Rica economically in a short time. Here are 3 of my favorite recommendations to visiting family and friends: One, the Highlight Tour, an 11 hours tour with a possible overnight option. Two, the overnight "Special" at the Cerro Chato Eco-lodge. Page down to the clock near the bottom on the left hand side of their home page and click on "Special." It is another good value. Three, is the Isla Tortuga Cruise, a great last full day trip. Bring sunscreen. These three trips give you a glimpse of Arenal and the cloud forest, Poas and the Caribbean slope and rainforest, and cruising the Pacific Ocean on a catamaran with a gourmet lunch on a white sand beach.
There are plenty of other sightseeing and adventure tours available not mentioned on the site above, but available through most hotels.
I would pass on Monteverde with only 7 days, because travel time to and from is too much. Also, you may have to spend the first and last nights near the airport depending on your flight arrival and departure times. Enjoy

We are planning on going in February of 2008. Our exact week is not set yet. Thanks for the links!

February is a good weather month for most of Costa Rica, except the Caribbean side where it will be iffy. Check out CostaRica.com for national weather service data by location and month while formulating your itinerary.
Fly into Liberia if you plan to spend your vacation in the NW part of CR or in the Southern Nicoya Peninsula to save money and travel time. I'd base in Tamarindo for this area. Check out Tamarindo Beach website for some tour ideas along with the options listed at the ACRT website. Google is a great travel planning resource too. Enjoy