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Default Excel 2007 question involving SaveAs to .XLS

After years with Office 2000 and 2003, I'm learning Excel 2007. I
want to keep the old .XLS file formats with my spreadsheets, none of
which have anything fancier than a SumProduct here and there.

Question: When I do a SaveAs after working on an .XLS file, does
Excel 2007 remember that I want an .XLS file in the future or must
every Save be a SaveAS?

Thank in advance for any help.
 
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