Windows 7 Ultimate SP1 Lite x86/ENG/Final 2011 | 700 MB

Its bootable image based on en_windows_7_ultimate_with_sp1_x86_dvd_u_677460.iso
This Windows is updateable through Windows Update (language packs cannot be installed).

There is no any software or updates added except newer Internet Explorer 9.
Windows 7 is not activated (you can use your own key or favourite method of activation).
Some tools used: dism, gimagex, vLite, RT7lite, W7T etc.

Some features left are (see screenshots above):

Windows Media Player (with default codecs)
Internet Explorer 9 (Google is default search engine and home page)
Windows Mail (working)
Windows Fax and Scan
Windows Defender (on by default)
WinSAT (Windows Experience Index tool)
all components needed for mobile computers
Gadgets (CPU/RAM usage, time, calendar)
Games (no premium games)
.NET Framework 3.5.1
Windows Update and Security Center

links are interchangable add 5% recovery ,enjoy!