I've been trying to install PyQt 4.7 on Vista, but I am getting an ImportError when I try to do: from PyQt4 import QtCore, QtGui. 

ImportError: DLL load failed: The specified module could not be found.

I've checked my System Path, and C:\Python31\Lib\site-packages\PyQt4\bin is on there.
I can't run any of the examples, but the Designer, Assistant and Linguist run fine.
I am using ActivePython 3.1, if that makes any difference. And I haven't had any previous version of PyQt installed.

Edit:
I've copied the QtCore4 and GtGui4 dlls to C:\Python31\Lib\site-packages\PyQt4. That fixes some of the examples, but I still can't use the example browser.
I think there are at least two possible error conditions
1. ImportError: DLL load failed: The specified module could not be found.
then you have to check your PyQT version is comptible with your python. In other words, if you use python 3.3, then you can only use PyQT for python3.3 and python 3.3 will not work with PyQT for python3.4
This was the problem I met. I solved it with re-install it
2. Import Error: DLL load failed: %1 then something strange on a different encoding Win32.
then it would be a OS problem. If you use 32bit Python then you have to use 32bit PyQt, so do 64bit
PyQt 4.7 - ImportError after installing on Windows