I don't think there is anything else that you need to be aware of. Just remember to leave the restoration partition alone as that contains your factory install files. Every netbook I have ever used has one of these partitions so I am just assuming that your MSI netbook has one as well.
From my experience, Windows 7 runs just a tad slower than Windows XP on N270/GMA 950 netbooks with 1GB of RAM. You may not notice a difference though. It definitely isn't like going from Windows XP to Vista. I haven't had issues with Windows 7 on any of the netbooks I have. In fact, Windows 7 had built-in drivers for every component of each netbook. The only thing is that the software the comes pre-installed may not be compatible with Windows 7. I know that MSI includes facial recognition software with their netbooks, that may not work with Windows 7. Just check MSI's website to see what software works with Windows 7 as it might be crucial to your needs.
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