In the title, you ask for a general answer, and in the body, you ask for a specific case. I'm not sure which answer you are trully interested in. But as a general case, the answer is "It depends".
As other have commented, your specific example will never raise, but it does not mean it's safe to compare a float to 0.
Take this exemple :
procedure TForm5.Button1Click(Sender: TObject);
var
F: single;
begin
F := (7 / 10);
F := F - 0.7;
if F <> 0 then
raise Exception.Create('Error Message');
end;
This will (as far as I know) always raise.
Also, round(f) <> 0
wouldn't be the way to go about this. Comparevalue(F, 0, ????) <> EqualsValue
would be.
As to the "why" of all this, this has been answered (probably numerous times) on SO. (you can start here)