The WES7 SP1 Image builder Wizard has all you need. Product key link and links to download from this page:
Download Windows Embedded Standard 7 | Product Information and Trials
Learning modules and other resources here:
Embedded Development Tasks |OS Design OS Image Customization | Windows Embedded Standard 7 Top Tasks
Windows 7 does have BCDBOOT.exe, it's located in the Windows\system32 folder. The commands for Win 7 are different than Win 8 though since Win 7 is not "UEFI aware", so it would just be "bcdboot.exe d:\windows /s d:" without the quotes.