The specific computer probably doesn't matter, but it's listed there for deniability. The basic idea is to load up the service packs, and then do the online updates. This ends up saving a lot of time, so your computer can be ready in a day.
Dealing with an older system that needs to be wiped out can suck: the install can take days, because the online updates not only take a long time to download, but the system prompts you to approve things, and then will reboot. The technique used here will cut down the interaction, and speed up the whole process. It'll still be slow, but a bit more tolerable.
First, you need a second computer and an external hard disk with at least two gigs of free space. When you start your system restore, you should also start downloading the following (this is for Vista Basic, but I suspect Windows 7 will be the same).
Vista Service Pack 1 (get the complete installer)
Vista Service Pack 2 (get the complete installer)
.NET 3.5 SP1
When the system is restored, and it's setting you up, don't enable Automatic Updates. Turn that off, because downloading will slow you down. You should get into the Control Panel Apps applet and uninstall any bloatware or crapware that you don't want. Just don't delete any .NET stuff. You can leave the C++ redistributables too. I'll get a list up here eventually.
Once that's done, copy the first service pack onto your desktop and run it. It'll take a long time. Do the same with the second. Then, do both of the .NET packages. If you need to install MS Office, do so now.
By this time, you should have rebooted several times. It should also be several hours later :)
Turn on Automatic Updates. Just go to Windows Update and press the button. In a short while, you'll get a notice that you need to install a hundred or more updates. Click the install button. You may get asked to approve some.
Now, go into the Control Panel and find the "Power" settings. Set it so the computer will never sleep, and always forge ahead with installs. Also, in Automatic Updates, set the time to do installs three hours into the future. That way, once this install is done, it'll try to update things one more time.
You can now leave the computer alone for the next few hours.
The computer should reboot itself, but if it doesn't, help it along. You may need to reboot a few more times to install little bits and pieces, but most of the updating is now done. As a bonus, the updates before SP2 won't be shown in the updates history.