1. no need to do so, see points below, just install windows 7 and you are done.
2. Transfer data: documents and pictures should be transferable by an usb stick (or external HD)
3rd maybe the important one: No, you cannot legally run mac os programs under windows even not with vmware. Apple denies you that opportunity.
But, in most cases there are the same tools available form windows you get for Mac OS, for more details I need a list of names you want to "transfer"
4th: Instead of pushing the vm xp stuff into XPM (possible only with w7 professional or higher) I suggest you take the free vmware player 3.0 - for feature details see:
www.vmware.com/player you can tansfer the virtual machine file based from the mac to the new system (external HD should do the trick, something USB related)
Tolomir