If you're reinstalling factory OEM, you can insert the Product Key from COA sticker upfront during the install and then afterwards auto-activate it at Computer>Properties.
Only if you're clean reinstalling retail Upgrade (not OEM) version to a new or wiped HD do you need to wait until after install to do one of the workarounds given in this tutorial to activate Upgrade version on clean HD: Clean Install with a Upgrade Windows 7 Version
As it says in Reinstalling Windows 7
go online quickly to Windows Updates to get latest updates including optional Updates which will provide newer drivers than in the installer.
After exhausting Updates for any drivers missing in Device Manager go to the maker's Support Downloads webpage for your model to import them. I would not change out any drivers given by installer/optional Updates except Standard VGA display driver if it isn't updated, or any drivers which are confirmed by troubleshooting to be causing performance issues.