Yep. It's a 266MB download. For future reference, it can be disrupted mid way, and it will pick up where it left off when internet is again available.
I work on many different computers, and have it downloaded from Microsoft onto a thumbdrive.
You will have IE7 available after the SP2 install, and several security updates as well.
IE7 is a pretty good size download, but the Firefox copied Tabs are nice to have if you are an IE addict.
My advice is to download
IE7 in advance and install in one shot. Just get it over with.
Joe
There is also a link to SP2 as a download from the linked page for anyone not yet up to SP2.
Common sense to some of us is unfortunately the higher education others strive to attain.