Did this a few days ago and received my product keys yesterday. Two legitimate product keys for Windows 7 Professional 32-bit and two legitimate product keys for the 64-bit version.
The steps are outlined here:
Essentially you have to buy a nineteen dollar subscription to some student association as outlined above, create a log in and wait for your payment to process. Then you opt in for MSNDAA membership, which allows you to download the latest RTM (Release to Manufacturing) versions of Windows 7. You get a key for each one, but you shouldn't download them yet.. just wait for an .iso (DVD image) of Windows 7 to pop up on the internet sometime after its release in October, download it, use it with your key, and there you have it, 4 certified, legitimate copies of Windows 7.
I split the keys 50/50 with my girlfriend so now I have 2 copies for 10 bucks. Fucking sweet.
I can vouch for this personally, I have the keys on my computer right now, have tested them, etc. However if you manage to fuck up the process somehow I obviously take no responsibility, I'm merely informing you on how to beat the system.
Lemme know if there are any questions.