My previous post did not come out well so here it is again:
I've read in some sites that a clean install can be done from an upgrade CD. Personally I would rather do a clean install myself although I can understand some peoples hesitation to want to reinstall all the software they currently have on their computer. I rather enjoy reistalling them, pasting the back-up files myself (such as game saves) and making sure all my favorite short cuts are where they should be. But that's just me. For example, some of the files for my Call of Duty World at War are saved under the Users folder on Vista while my Call of Duty 4 Modern Warfare are saved in the same forlder as the game itself.
Here is a site that can help you decide the best way to install Windows 7:
http://www.winsupersite.com/win7/win7_upgrade.asp
And here is how to do the clean install with an update:
http://www.winsupersite.com/win7/clean_install_upgrade_media.asp
Hope this helps.