Let's see. I have
5 Updates for Office 2007
24 updates for Office XP Pro
2 Updates for .NET
1 update for Silverlight
32 updates for Windows 7
That's 64 total so far and includes SP1.
Overall I think Windows 7 has less vulnerabilities than XP had so there should be less activity.
Right now, when I install XP Pro with SP3 (slipstreamed) I then download and install about 100 updates. When you go from XP RTM to today, there are several hundred total updates. The info is available if someone wants to dig it out but I'm not that interested.