In short: It would be easier to simply install Windows 7 fresh on the new hard drive.
However, the only "difficulty" installing Windows Vista and then upgrading to 7 would involve is simply taking some more time. Going the upgrade way would be a bit cheaper, and it's not really hard (I've admittedly never used an upgrade version, but I'm certain the only difference from installing Windows normally is that it checks to make sure the previous system is installed). Installing Windows Vista or 7 really isn't hard, anyway, especially when you're just going to upgrade it afterward (you don't have to worry about making sure all of the appropriate drivers are installed).
If you choose to install Windows Vista and then upgrade to Windows 7 32-bit, I do see a problem that could arise: I've read all over the Internet since Vista came out that Vista 32-bit only took advantage of up to 3.25 GB of RAM, and that seemed to be pretty truthful. I read now that Windows 7 32-bit is the same. I have no personal experience on this having never built a compy yet with four gigs on a 32-bit system, but I would be wary of upgrading to four gigs with a 32-bit system as your purchase may give you only another .25 GB of RAM to utilize.
It seems to me that you should be able to buy the 64-bit upgrade and upgrade from a 32-bit system, but don't quote me on that.
Edit: Oh. I did a quick Google search, and it looks like you can't. You have to get a full version of 64-bit to go from 32-bit. Sorry for the misinformation. But the 4GB RAM in the 32-bit OS thing is still a legitimate issue as far as I know.