RFM in Win 7 is a very different proposition to RFM in Vista RTM or SP1 - but fairly similar to that in SP2.
Neither article properly addresses these differences - and I know of none that does.
The Superuser article is pretty close to my experience - at least if you simply allow WIndows to go out of grace period. I haven't tested much with known non-genuine systems, but the restrictions in that article would be the minimum.
Expect Aero and ReadyBoost to fail, and Media Center to stop working (although Media Player will continue to work, I believe)
MSE begins a 30-day countdown - and will STOP WORKING COMPLETELY at the end.