The guys and girls over at the Windows 7 Team Blog have announced that Windows 7 is on Track to Hit This Holiday Season. Exactly which holiday season they are referring to and how that fits in with our (Australian) calendar I’m not sure. But I’m guessing in time for Christmas. I would expect they would want it ready to go onto any new PCs people might be buying for Christmas or just as an upgrade gift.
In the mean time you can try out the Windows 7 Upgrade Advisor. It will analyse your system and let you know if your hardware and software is compatiable with Windows 7. There are no guantrees of course, but it is a pretty good guide.