How do I bypass Visual Studio 2005 SP1 failing to install on Windows 7?

I'm trying to install Visual Studio 2005 in Windows 7. When attempting to start, Windows 7 complains that Visual Studio 2005 is incompatible with Windows 7 and offers me to search online for a solution. It comes up with a link to Visual Studio 2005 SP1 for Windows Vista and Windows 7, but when I download it (VS80sp1-KB932232-X86-ENU.exe) and try to run it, it refuses to install saying that

The upgrade patch cannot be installed by the Windows Installer service because the program to be upgraded may be missing, or the upgrade patch may update a different version of the program. Verify that the program to be upgraded exists on your computer and that you have the correct upgrade patch.

Solution 1:

You need to ignore the warning and install VS 2005, then SP1 and then the VS2005-Vista update. Three installs.

Solution 2:

Visual Studio 2005 might not be compatible with Windows 7:

http://msdn.microsoft.com/en-us/library/4c26cc39%28VS.80%29.aspx

Operating System

Windows 2000 Service Pack 4, Windows XP Service Pack 2, Windows Server 2003 Service Pack 1, or Windows Vista3,4

For a 64-bit computer, the requirements are as follows:

Windows Server 2003 Service Pack 1 x64 editions

Windows XP Professional x64 Edition