Chris Johnson at Microsoft just blogged about some very cool scripts in a package you can now download from Microsoft that will quickly get you going in developing SharePoint 2010 on Windows 7. These scripts will setup a VHD with SharePoint 2010 evals or install it on your local instance. The walkthrough in Chris' post provides a ton of detail... very cool stuff!
I'm not much for developing SharePoint 2010 on Windows 7... I've said as much in this post. However I recognize that some folks want to do it and it's a good solution for those people so when it is, these scripts will be very helpful.
If you do elect to run SharePoint 2010 on your Windows 7 machine, I'd recommend you check out Emmanuel Bergart's Stop & Go scripts that turn on/off SharePoint services when you are/aren't developing on SharePoint as there's lots of background stuff that eats of performance that's unnecessary when not developing. Or you can check out the SharePoint 2010 Service Manager, a more GUI tool.