I generally create a main directory with sub folders for various things like the full IE install package, DX 9 full, system, video, sound, and board updates as well as some for Windows. When the IE 7 beta became a problem the method there took IE totally off until the final version saw a good upgrade.
IE 7 does keep a lot more crap from getting on your system however. You may want to look to see if there are any updates for IE 7 at the software's support site. That could allow you to keep IE 7 on. That was an extra thought to pass along there.