i have a feeling its because your trying to install to IDE...but i could be wrong, i was under the impression that win7 was not going to allow installation onto IDE drives, SATA only
Not true at all - IDE will be fully supported until Motherboard makers stop providing the port for cables.
What type of memory, and in what configuration are you using? If dual channel, pull one stick and see if it boots. If so, see if you have a new Win7 friendly bios update that will fix memory addressing issues.
Are you running x86 or x64? If x64 be sure you have a 64bit ready processor (Athlon 64 or better; or Pentium D or better) - obviously if it's not a 64bit processor it won't run. If your processor is 64-bit, you could still be having memory addressing problems, that memtest won't show, but windows 7 can't address your memory properly causing hard faults and restarts.