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 had the same problem. I got my program running from within Eclipse but when I tried running it directly from the command line I still got the same error.
I solved it by renaming the C:\Users\Me\AppData\Roaming\Python\Python27\site-packages\PyQt4 directory. (I'm guessing leftovers from a previous PyQt install)
I am using ActivePython.
PyQt 4.7 - ImportError after installing on Windows