I have both x86 and x64 windows 7, but what will happen when MS stops the beta? Will I just have to order a windows 7 copy? Will I be able to keep the beta installed and buy a new product key?
I believe you'll need to install a fresh final release. You may be able to do an upgrade install but no promises. If you try and keep using the beta/RC it will be flagged as illegal and reduce functionality.
More than likely what'll happen is you'll get a week or so of messages letting you know the evaluation's going to expire giving you a chance to back up whatever needs saving, then it'll be flagged as illegal and have reduced functionality, or require a product key from a retail version before you can use it (though this is the least likely of the 2)
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