IE7 is not ready for prime time and you should not install it as your primary browser. Yet another hold was discovered by Secunia:

A weakness has been discovered in Internet Explorer, which can be exploited by malicious people to conduct phishing attacks.

Phishing, according to Dictionary.com, is:

A method of identity theft carried out through the creation of a website that seems to represent a legitimate company. The visitors to the site, thinking they are buying something from a real business, submit their personal information to the site. The criminals then use the personal information for their own purposes, or sell the information to other criminal parties.

The only danger would occur if a user were to actually follow a link to the site, thus taking the bait.  There is a test on Secunia’s site to see if your browser is susceptable to the problem.
This bug discovered by Secunia is in addition to the bugs that Microsoft has thus far reported on.

As always, Firefox passes the test.  If you haven’t switched yet to Firefox, what are you waiting for?