In case anybody wants to save a bit of money:
http://www.winsupersite.com/win7/cle...rade_media.asp
Basically says to use an upgrade disk to install a fresh install.
Don't have your internet turned on (unplug Ethernet & turn off WIFI) so you won't get any windows updates, then when the install is done and you get up to windows for the first time...
Change the following registry key:
HKEY_LOCAL_MACHINE/Software/Microsoft/Windows/CurrentVersion/Setup/OOBE/MediaBootInstall from 1 to 0
Launch Command Prompt as administrator, and run: slmgr /rearm
Reboot, and it will let you register (supposedly).
I have a feeling this will be shut down pretty quickly with the code registration, but maybe it will work forever like the Vista one did.