Opera 9.24 came out recently and here are the install procedures for Ubuntu 7.10 ( Gutsy Gibbon).
First go to the download area for the .deb package.
Same package is now also available in the “partner repository” (Thanks Kevin). The static version however, for Gnome and XFCE4 users who want no KDE components, a manual download, as described below, is still needed
KDE users can safely go tho the Shared folder to download the opera_9.24-20071015.5-shared-qt_en_i386.deb package.
Gnome and XFCE4 users, should get opera-static_9.24-20071015.1-qt_en_i386.deb. in the Static folder
Click the download link and let Gdebi install the package.
Opera is installed now and assuming you have ubuntu-restricted-extras (and/or kubuntu-restricted-extras, xubuntu-restricted-extras) , Opera works with flash automagically.
All there is left to do is to set up Java, here is how:
Open the Opera Browser, Select tools, then Preferences, in Preferences select the Advanced tab, in advanced select “content”.

Now Flag “Enable Java” and click the Java options button, a pop-up appears asking for Java path:

the correct path would be in this case: /usr/lib/jvm/java-6-sun-1.6.0.03/jre/lib/i386 Click validate Java path to check if it is being detected.
Thats it , Java should be fully functional now, Opera is ready for usage.
Tuxicity.
about ubuntu-restricted-extras:
This package depends on some commonly used packages in the Ubuntu multiverse repository.
Installing this package will pull in support for MP3 playback and decoding,
support for various other audio formats (gstreamer plugins), Microsoft fonts,
Java runtime environment, Flash plugin, LAME (to create compressed audio files),
and DVD playback.