Well on Paul Thurrotts site for windows he says this about it: Link Removed due to 404 Error
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With Windows Vista (and with pre-release versions of Windows 7, though Microsoft does not support this), you can do a traditional in-place upgrade, where you insert the Windows 7 Setup DVD in the existing OS, run Setup, and upgrade the entire system, applications and all, to the new OS. Or you can do a migration, where you use Windows 7's Easy Transfer utility to backup your settings and documents (but not your installed applications), perform a clean install of the Windows 7 OS, and then re-apply your settings and documents to Windows 7, again using Windows Easy Transfer.
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So for you it's probably the best way to go and if you want instructions on how to do the upgrade just ask and I'll post them.