I was suffering of the same issues. Installed the Windows 7 Ultimate RTM today and got bsod on every boot. After reading about the issues in here I decided to install Windows XP instead, so I threw the Windows XP SP3 DVD in the drive and used the boot camp assistant to initiate the install. I was away from the computer for a couple of minutes and when I got back, the computer had booted into the Windows 7 "first-run procedures". I was now able to register my copy, set up a user etc. and at last boot into Windows 7. I tried doing a "Windows Experience Index" test, to stress the graphics card and now I got a bsod 😟 Fortunately I was able to boot again, so I downloaded the latest GFX drivers off Nvidias website, installed them and now it seems to work. I had some other driver-related issues, however, and was not able to use my Leopard DVD for installing the boot camp drivers, so now I am going to try my Snow Leopard DVD instead - hope it won't mess up anything.
I have no idea how I managed to get it to boot up and I don't know if it will last and stay stable, but it seems you can use the latest Nvidia drivers with good results.