This is not true. Office 2007 can output a file in Office 2003 format, but
the resulting file is not the same as that which would be made by Office
2003. For instance, if you prepare a file in '07and have equations in it, if
you save it in '03 format the equations are no longer represented as
equations, but as graphical objects. Which means they cannot be edited using
the standard equation editor. I wrote a while paper (with many equations)
using '07, and found that the journal to which I was submitting it didn't
accept the '07 format, and that saving the file in the '03 format was
hopelessly inadequate. I had to redo all of the equations on a computer that
still had '03.
I have had other problems with '07 programs. For instance, I like making
graphs with crosshatching and diagonal lines, both patterns that no longer
exist in the '07 version of powerpoint. And when I have graphical images that
are created by, for instance, plots in '07 Excell, certain combinations of
lines are assembled into a single object that cannot be ungrouped after
transfer to, for instance, '07 powerpoint.
Add this to the fact that many commands are much more difficult to access,
involving time-intensive pull-down menus, I have decided that my choice to
update to '07 was a mistake, and am going back.