Beta 2 of Internet Explorer 7 will indeed support Windows XP Service Pack 2 (SP2), Windows Server 2003 SP1 (possibly R2 support too) and x64 support. Beta 2 of Internet Explorer 7 will also support English, German and Japanese. However, on the final release Internet Explorer 7 will support the same languages as Windows XP SP2 and Windows 2003 SP1. The Internet Explorer team might have a surprise for beta testers. They (IE team), mentioned that a new user experience or user interface can be expected in Beta 2 of Internet Explorer.
On the other hand, the Internet Explorer team emphasized that there will be less builds released until Beta 2 of Internet Explorer 7. No comment was made on the final release of Internet Explorer 7 nor the Beta 2 release of Internet Explorer 7.