As mentioned in my previous post, I had some problems installing IE7 on my XP machine. I searched around for the error message and couldn't find any solutions. But I did find a post describing how to run IE7 without actually installing it. Here's the steps:

1. Extract the install package and delete the UPDATE folder and SHLWAPI.DLL
2. Create an empty file called IEXPLORE.EXE.LOCAL
3. Run iexplorer.exe

Sweet.