I suggest you dual boot it with windows 7 and then install the programs and test. Or you can vmware or similar to test before you go 'live' with windows 7.
The first thing you need to do is make sure that your hardware is compatible with Windows 7 by using the Windows 7 Upgrade Advisor.
Like smajer said, it would be best if you dual booted -- preferably with two hard drives. Install is very easy all you would do is load the windows 7 dvd or usb drive and when it starts the install process you tell it to use the second drive.