My original version was Cubase 5, I have since purchased Cubase 6 and 7 upgrades. When I install on my new laptop do I install version 5 then upgrade 6 and then upgrade 7?
Not unless you want all the versions on your laptop at once, they are each a unique install so no need.
Although C7 is diferent if you have the download as it may not contain the content.
If you have the C7 CD then that will be fine.