This works quite well from XP to 7. Does not transfer applications.
http://windows.microsoft.com/en-us/windows7/products/features/windows-easy-transfer
Category: Upgrade Procedures
Transfer Profiles from XP to Windows 7 - Windows Easy Transfer
article #147, updated 4592 days ago
Quick Time Zone Updates
article #221, updated 5134 days ago
Here is a set of quick updates for time zones for recent version of Windows:
http://support.microsoft.com/kb/979306
They apparently were scheduled for February of 2010, but some machines still don’t have them.