I read that 7 will use the same kernel as Vista, not a new one, ala MinWin. See here (
Microsoft Watch - Operating Systems - Eight Things About Windows 7) and here (
Shipping Seven: Windows 7 Won't Have Compact "MinWin" Kernel).
While I understand that MinWin is basically the Windows kernel stripped of everything, it looks like 7 will be the Win98 version of Vista. I could be wrong... and hope I am. I really have high hopes for 7.