WIN7 is a huge improvement over Vista, its like going from Winblows ME to XP. It still has some of the annoying "Are you sure" pop ups but those are easy to disable. I only have one WIN 7 machine so I cant say how easy the Homegroup is for sharing files over your network. My 7 machine and my server arent playing nice together at the moment.
MS says you need a minimum of 1gig of memory for 7 to work, but I can tell you it works fine with only 512megs.
If you have an install disc you can strip all the extras you dont need from it using v-lite.
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