To add to that: in order for outlook to "look" for your file, just open Outlook, File | Open | PSTYou can just install Outlook in Windows 7. After done that, transfer/copy the the Outlook Data files (extension: .pst) from it's location: <drive>:\Documents and Settings\<user>\Local Settings\Application Data\Microsoft\Outlook folder to the new location of Outlook in Windows 7. If you like, you can define your own Data folder like: D:\My Documents\Outlook and place the data files to that location. In this case you'll need to configure Outlook for to "look" at that location..
For to transfer the settings of Outlook, use the Export Function.