The easy way with much less hassle
Creating a custom Windows 7 installation image
Creating a custom Windows 7 image can be accomplished using a few different methods, and Microsoft even provides a number of tips for creating unique and customized Windows 7 deployments. However, many of these custom imaging methods revolve around a straight enterprise structure, which may require multiple workstations, a master PC, and Windows 7 Enterprise Edition.
For non-enterprise Windows 7 imaging, which works with all versions of Windows 7, you can use a program called RTse7enLite. The program is available as freeware.
Update: RTse7enLite is no longer available from the developer's website. You can still download it from other sites like MajorGeeks, but it might contain bundled crapware. We'll update this article in the future with a better way to create a custom image.