Sharepoint Foundation 2010 Development Environment Installation Issues

I am having problems installing a development machine for Sharepoint (Foundation) 2010. This is what I have been doing so far on the same machine:

1. Installed clean Windows 7 x64 with 4GB of RAM without being part of any domain. Just an autonomous car.
2. Included IIS related features as described here , excluding IIS6 related features (two of them)
3. Installed SQL Server 2008 R2 Developer Edition (Database Engine and Writer are enabled, but SQL Agent is not enabled)
4. Installed Visual Studio 2010 Premium
5. Started the Sharepoint Foundation 2010 installation by first extracting the files, changing the configuration to include a Windows 7 installation and then setting it up as a server farm (then complete) to avoid installing SQL Express.
6. A separate local user SPF_CONFIG has been created with the right Logon on as a service
   
   .
7. Opened the SPF Management Shell and launched New-SPConfigurationDatabase
   
   so that I can use a non-domain username (SPF_CONFIG which I created in the previous step)

But all I got was this:

Result after this error:

• Database Sharepoint2010Config
  
  created
• The SPF_CONFIG user is added to SQL Server and joins this newly created database as dbowner
  
  

• By checking the security logins of the SQL server, this user has the following rights:
  • dbcreator
    
    
  • securityadmin
    
    
  • public