yeah just create a partition for it before you start(or use a separate hd like i did). pop the disk in, select custom install, select proper hd, wait 15-30 mins and you're done. normally when you start the computer up after the install is complete it will show a boot manager that will have a list saying "Older version of windows" and "Windows 7 Beta". this lets you choose which OS to boot into obviously. works pretty well.

more detailed instruction:
http://lifehacker.com/5126781/how-to...th-xp-or-vista


oh btw on the piratebay download it will still ask you for a cdkey at the end of the install but i left it blank and continued on. i haven't gotten any pop ups or validation errors as of yet.