I put the CD in the drive, answered 2 or 3 simple on screen questions about my location etc, and a few minutes later Windows 7 was installed.
I am not sure what the difference is between this and the full version. I heard this OEM version is only for a clean install, however I was already running an unlicensed Windows 7 Ultimate and it offered me choice to either Upgrade the windows version, or to do a Clean Install.
Anyway, I think there is absolutely no reason to pay extra for the full non-OEM version.