The new Internet Explorer first run screen
The first run screen for IE7 has been reworked as you will see from the graphic below.
Note that the IE7 Phishing Filter is *off* by default, as is participation in the Customer Experience Improvement Program. Clear Type is enabled.
I strongly recommend you enable the Phishing Filter. If you do not have an LCD monitor, you may wish to disable ClearType. The option can also be managed via Tools, Internet Options, Advanced, Multimedia tab.
After you have selected your options, make sure you click on the "Save Settings" button or link. I found this a bit confusing because nothing seemed to happen when I clicked on either the link or the button, but when I restarted IE the first run page did not reappear.
Note: If the "Save Settings" button or link does not work for you, open regedit and navigate to the following key:
HKEY_CURRENT_USER\Software\Microsoft\Internet Explorer\Main
Search for the DWORD "SearchMigrated" and make sure it is set to 1 (that's the number one).
Problems with the first run page
Sometimes the first run page reappears. Possible causes of this problem are:
1) The Welcome page does not load completely for whatever reason.
2) Scripting has been disabled (note: blocking ActiveX does not cause this problem)
In such circumstances, the DWORD "RunOnceHasShown" may not be created in the following registry key, or it may not be set to a value of 1.
HKEY_CURRENT_USER\Software\Microsoft\Internet Explorer\Main\RunOnceHasShown
If your system is stuck at the initial IE7 welcome page, shut down IE, check for the existence of the RunOnceHasShown DWORD and set it to a value of 1.
Also, ensure that the following key is set to 1:
HKEY_CURRENT_USER\Software\Microsoft\Internet Explorer\Main\RunOnceComplete
Also make sure you have disabled anything that may prevent IE from writing to the registry such as anti-malware applications:
http://blogs.msdn.com/ie/archive/2006/10/11/IE7-Installation-and-Anti_2D00_Malware-Applications.aspx
Problems with ClearType
There was a bug where ClearType continues to affect OE even when disabled. The fix is to navigate to key:
HKCU\Identities\{56561DBF-E736-4516-B63E-80BB99D3E6AD}\Software\Microsoft\Outlook Express\5.0\Trident\Main\
Create STRING UseClearType if it does not exist. Set value to no.

The IE7 First Run screen