it should still be possible to validate 07 off line with the original packaging, however it's a few versions before that where they made it annoying at best.
post 04 having graphics hardware that's designed for ACAD is particularly important, as you can get some *really* funky bugs, especially if you update your driver to an unsupported version.
we'll also need a seat of win XP to install it on, and a seat of excel (it's not a listed requirement, but it uses it for some backend stuff).
because of the hassle factor, and how much better ACAD performs without a lot of other stuff installed on xp along with it, i'm going to suggest that we install it on a virtual machine which we can save an image of once it's happy, and reset if something gets funny. http://autodesk.blogs.com/between_the_l ... 07_gr.html
is the big list of graphics hardware (and the particular version of the drivers that work)