If the PC you're upgrading is Vista AND is the same bit edition as the copy of Windows 7 you're upgrading to, then no, you shouldn't have to reinstall Office 2007.. That is the only time you wouldn't have to reinstall Office 2007. In every other case you have to nuke your entire operating system and if you're upgrading from Windows XP, you likely have to nuke the entire hard drive / partition (old NTFS) as well.
As far as losing your OEM licenses, as long as they're the same PCs, there's no problem.
Onboard RAID vs. 3Ware RAIDI never recommend people run RAID-5 with onboard chipsets.