Keep in mind that running the Factory preinstall is not optimal due to the often heavy load of OEM sponsors' bloatware and useless factory utilities which have better versions built into Windows 7. So I would consider doing a Clean Reinstall - Factory OEM Windows 7
to the Windows 7 partition, then following these steps to Dual boot Ubuntu-Win7
which cause the least problems by limiting GRUB to the Linux partition.
Make your Recovery disks anyway so you have a path back to factory condition if you decide to sell the PC or ship it back under warranty. If you do decide to run Recovery I would do it from it's partition at boot, then use the disks only as a backup against failure. If you decide to Clean Reinstall, make the disks so you can delete the Recov partition and recover its space.
If you run Recovery and it doesn't offer an option to save an existing partition then Ubuntu will be wiped and you'll need to add it back. Best is to add it on another HD booted only via the BIOS boot order or one-time Boot menu.