Here’s how I went about the installation:

1. Boot with the Windows 7 Ultimate CD and (clean) installed the 32 bit version since the Acer 4730z has only 2GB of memory.
2. Waited for the installation to complete (yep MS just made their installation easier).
3. Installed the following drivers:

chipset (Intel)
vga (Intel)
wireless lan (atheros)
card reader (jmicron)

The drivers enumerated above were installed for stability. With the default vga driver, the laptop display blacks out when I play DirectX games. The wireless connection disconnects randomly with the default WiFi driver and MS can’t find a driver for the card reader.

A couple of things to note:

1. Didn’t need to slipstream a SATA driver since the installer detected the SATA hard disk fine.
2. Detected and installed default drivers for all devices except the card reader. Some drivers had issues though, but driver updates fixed it.
3. Boot, reboot and shutdown are noticeably faster (hibernate remains about the same on the off stage but is faster on waking up).

For a complete list of the Acer 4730z Windows 7 drivers you can download it from here. Choose notebook from the menu and then the corresponding model.

Just in case you are looking for the Windows XP drivers for the Acer Aspire 4730z you can find it here. Hope this helps ^_^