I should have posted this long ago, but here it is. I did not manage to install PowerShell 2.0 on Windows 7. Windows complained about a newer version that already was supposed to exist on the system. And yes, just open the Run dialog (Win+R) and type powershell, and there it is.
To start the graphical version, type powershell_ise in the Run dialog.
If you want to be able to start it without doing any typing, you can right click on it in the taskbar, and select Pin this program to taskbar.
