Steve Smith has written an excellent document on how to create a "Slip Stream" installation of SharePoint 2007 Beta-2TR. The B2TR of Office, SharePoint Server and SharePoint Designer installers require a working installation of Beta 2, and exist as patches. If like me, you like to repave your machine before installing the newest version, and don't want to have to reinstall Beta-2, then a slip stream version will install from scratch.
A number of developers wrote me in response to my original Beta-2 install instructions, some had problems with the SharePoint configuration wizard conking out on them. A few tips to help grease the installation wheels:
1. Install as an administrator (duh)
2. If installing the slip-stream version make sure that prior versions of MOSS 2007, Office 2007, and SharePoint Designer are removed. If upgrading, follow the instructions here and here
3. Remove prior versions of the .NET Framework 3.0 (formerly known as WinFX) and install the latest version
4. Install MOSS 2007 in a farm (SQL Server 2005) rather than in SQL Server Express
5. Use the DOMAINNAMEAdministrator account name as the account with administrator privileges in SQL Server 2005 – The administrative account must have rights to create databases in SQL Server, this is often where installation fails, because the local administrator on a web-head machine may not have administrative rights on a SQL Server box.
To create slip-stream installations for Office 2007 and SharePoint designer, follow a similar approach that Steve took with SharePoint Server – extract the Beta-2TR patch files to the updates directory in Beta-2.