1. According to Microsoft, you can install the US version of Windows 7 outside the US. The question is do you want a copy of Windows which is customized for the US and uses American English/spelling conventions in its internal documentation?
2. You can. There is software you can download from Microsoft that will generate a report that Microsoft can use to check the validity of a license. See http://answers.microsoft.com/en-us/windows/forum/windows_7-windows_install/how-to-chec...a-fd30cbc075c6. ..but if you are already suspicious that the license isn't valid, maybe you should buy from a different seller.
3. From what I recall, it is not possible to do an in-place upgrade from Windows XP to Windows 7. Windows XP and Windows 7 are too different. Programs and settings from XP will be wiped out during the installation process.
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If there is auto formatting of addresses and phone numbers somewhere, that would be one possible difference, but to be honest, I have never seen a detailed description of what will be different in different regions other than language. The discussions I have read about Windows regional editions are mainly concerned with language packs and activation problems. Installing a language pack adds that language and appropriate character sets for it.
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I found this page with information about changing country/region settings: http://windows.microsoft.com/en-us/windows/change-country-region-setting#1TC=windows-7
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