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Default Excel 2007 won't open Excel 2003 Files

I have purchased a new lap top running Vista with MS Office Enterprise
Edition. I am trying to work with files created on a desk top system running
Windows XP SP2 and MS Office 2003.

When I try to open any Excel 2003 file with an xls extension created using
the older system in the new one I get the following message "The file you are
trying to open e.g test.xls, is in a different format than specified by the
file extension. Verify that the file is not corrupted and is from a trusted
source before opening the file. Do you want to open the file now?"

I know where the file I am trying to open came from as I created it in Excel
2003, and that it is readable on the older system, so I click yes! The file
appears to open, but nothing can be seen and all the data is apparently lost.
I have tried everything I can think off. This would appear like a case of
converting all the files manually which is really impossible. I have
experienced a similar intermittent problwm with Word files using the .doc
extension. It really looks to me like I need to bin Office 2007 and go back
to Office 2003.

Has anyone else come across the same problem and or have an answer to mine?

Thanks,

Tom
 
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