I personally have mixed opinions over this. I originally Installed Vista on an older Dell D530 with a 1.8GHz Sempron and 1gb of ddr2 667. The updates didn't take long to download on my 30mbps connection in my dorm, but the installs would take almost an hour on average. Not too long before 7 came out I upgraded that same laptop to a 1.8ghz dual core AMD Turion and 3gb of ddr2 800. Vista "Drastically" improved. Which makes me wonder.. If the problems only occur on Underpowered Machines.
I eventually upgraded to 7 on that laptop and it ran better then Vista.. In every single category.
I now have 7 Ultimate running on my newer Dell 17R... It feel like how old XP machines with 2gb of Ram felt.. Fantastic!!!