After Service Pack 3 you will no longer have the option.
Warning: you can't roll back to IE 6 after installing SP3
If you're running IE7 on your XP computer and you
install Service Pack 3, it appears you won't be able
to go back to IE6 afterward. At least that's the word
from Jane Maliouta on the MSDN web site. Same
thing applies if you've installed a beta of IE8 - there'll
be no going back to IE7 after installing the service
pack. So if you want to roll back your browser, you
need to do it before installation of SP3. Read more
here:
http://news.zdnet.co.uk/software/0,1000000121,39413766,00.htmThump