Again, others please correct me if I am wrong, but I believe you can install and use Win 7 for up to 30 days without a product key.
If you have enough physical HDD space you could make yourself a new partition, borrow a disk from a friend and install W7 in the new partition, and see how you go with the existing RAM and BIOS.
You may find you don't need to do anything with these if you are happy with the performance you get.
tow