If your installation is freezing at 62% then it appears you're doing an "upgrade" install instead of a "clean install" or custom install. Quite a few people are having issues when doing an upgrade install. I would suggest doing a clean install, plus Windows 7 works much better when it's installed that way.
If you only have the "Upgrade Version" discs don't worry, the full OS is still on them. I have done three clean installs with upgrade discs with no problems and no issues with activation. One hint that helps is DON'T put in the product key or a password, when asked by Windows 7 during install. Let it finish installing and do any automatic updates until all updates are finished.
Then go to to Start Orb, Computer, Right-click then properties, you'll see the Windows Activation area in the lower right-hand section. Click on "Activate Windows Now" section and enter Key and activate, you should be good to go.