Confirmed. I have Visual Studio 2008 (and also 2010) installed in Windows 7. It installed without any trouble by just running the Setup program.
I don't own "Microsfot Visual Basic 2008 Step by Step", but from what I can see from the description of the book, the CDROM just contains sample code, so it wouldn't need any installation. Simply, load the sample code into the Visual Studio instance that
you previously installed.