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Default office 2007 and old office 2003 excel files

I have a desktop pc with Office 2003 and Vista Home premium system. I am
getting a new laptop and am purchasing office 2007 home student to install on
it. With the laptop I can access shared files from the desktop. However,
all my old files were generated by office 2003. Will the office 2007 be able
to access and process these old files? Also, can I uninstall office 2003
from my desktop and install the office 2007 on it and use the old files
created by office 2003? Thanks.
Carl
 
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