As expected Microsoft has released Windows 7 Service Pack 1 and Windows Server 2008 R2 SP1 to all and it is now available from the Microsoft Download Center. You may soon see your Windows Updates offering it any time now.
Windows 7 and Windows Server 2008 R2 SP1 helps keep your PCs and servers on the latest support level. It also provides ongoing improvements to the Windows Operating System (OS), by including previous updates delivered over Windows Update as well as continuing incremental updates to the Windows 7 and Windows Server 2008 R2 platforms based on customer and partner feedback. This enables organizations to deploy a single set of updates.
There are a few things you may need to know before installing it. Go here to know everything you need to know about Windows 7 SP1.