I have downloaded Office 2010 Professional Plus edition from MSDN, burnt the CD and ran the set up file.
These are the installation steps that might be helpful for the others who are migrating to latest Office 2010.

It will ask for the upgrade to the latest version.

We have the option to remove older version and install latest while upgrade. Or otherwise you can run both the versions parallel.I am using windows 7 ultimate as my Operating System.
Step1

Step2

Step3

Step4

Repairing Office 2010

It took 15 minutes for me to install Office 2010 and again it depends on your system performance.
Note: Office 2010 that includes Excel 2010, SharePoint 2010, Word 2010, Power Point 2010, and Access, InfoPath is the best Microsoft product among all.
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