Yes, you can download the .iso version now. I just got Windows 7 Pro this way. It also gives you the option of downloading the .exe, which you don't want. You get the option of doing a "custom" install with the upgrade disc, which just mean it is a fresh install.
Edit: Also, there won't be any issues with using a friend's email. Just make sure you print out the receipt with the product key for your own records.
Edit: Also, there won't be any issues with using a friend's email. Just make sure you print out the receipt with the product key for your own records.