Here is what I did.
1. Used JL commander to wipe the BB. It gave me a 507 message on the screen when it was done in about 15 seconds.
2. I put policy.bin in my blackberry directory.
3. I edited the registry to add the Path to the policy.bin.
4. I installed 41011dt-English.exe
5. I installed 7200E_PBr4.0.2_rel93_PL18.104.22.168_A22.214.171.124_Cingular .exe because I live in the USA and its the only one with 7280 listed.
6. I installed BlackBerry_Handheld_Software_v2.6a.exe since it was for my model BB.
7. I ran the Desktop Manager and pluged in my BB
8. I ran the Application icon and it proceeded to install the OS. (funny thing is that it sid it was doing an Upgrade and not an Install)
10 minutes go by and the hourglass is finished and my BB desktop shows up and its asking for a Password still. I put the password in, go to Security and the IT policy is still there.
This pic shows there is only 1 policy.bin, 15k, in my directory too.