Best practice I've found so far for installing photo story 3.1 on its own without the digital imaging 2006 suite in its entirety and saving a little space.
For information we're running
W7 Professional, the Photo Story 3.0 msi comes with the error : Your operating system is not supported
How we get 3.1 installed:
First, download the 110mb digital imaging suite starter 2006 from
HERE
Then, run the exe to start installation but do not continue through it.
Go to %temp%\IXP000.TMP and extract starter.cab
browse to %extracted folder name%\PIP\POD\ - These seem to be the install files for photo story. Having these files in their own directory and starting pod.msi (hidden file) looks as if it starts the DIS2006 installer but it only installs the photostory and image library parts. (totalling 26mb)
Let me know how you go with the success of this! Hope this helps someone.
(Wouldnt it be great if they could just package this instead of making us go through all this?)