Everyone says SP2010 can be installed on Win7 and when you actually try to do it – BAM!
It says setup is unable to proceed as the product requires Windows Server 2008 (x64).
Here is what came to my rescue: http://www.codeproject.com/KB/sharepoint/Install_SP2010_on_Win_7.aspx
The above issue can be solved easily by adding one extra line to your setup configuration file, usually found at C:\Program Files (x86)\MSECache\oserver2010\Files\Setup\config.xml
Edit the file and add the below line just before </config>
<Setting Id="AllowWindowsClientInstall" Value="True"/>
Now you can go ahead and run C:\Program Files (x86)\MSECache\oserver2010\splash.hta