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#11
I wonder whether 7 will be like Vista. Vista could be installed as a demo, and the upgrade could be installed from that. In other words, an upgrade license could be used like a full version, at the cost of installing the OS twice. (This violates the license agreement.)
As regards the upgrade options, a preliminary matrix is available:
Download details: Windows 7 Upgrade Test Matrix
For example: Vista Home Premium can be upgraded to 7 Home Premium, but not Professional. It can be upgraded to 7 Ultimate, though.