The last three versions of Windows had monikers like Vista, XP and Me but the new Windows will simply be called Windows 7:
The decision to use the name Windows 7 is about simplicity. Over the years, we have taken different approaches to naming Windows. We've used version numbers like Windows 3.11, or dates like Windows 98, or "aspirational" monikers like Windows XP or Windows Vista. And since we do not ship new versions of Windows every year, using a date did not make sense. Likewise, coming up with an all-new "aspirational" name does not do justice to what we are trying to achieve, which is to stay firmly rooted in our aspirations for Windows Vista, while evolving and refining the substantial investments in platform technology in Windows Vista into the next generation of Windows.More info about Windows 7 will be shared at Microsoft's PDC and WinHEC events later this month and in early November.
Simply put, this is the seventh release of Windows, so therefore "Windows 7" just makes sense.
Source: Windows Vista Team Blog