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Default excel addin options

I would like to ask the following questions that apply to excel 2003 and
excel 2007:
(Notes: a.Right now my comnpany uses excel 2003 and within the next couple
of months (Hopefully) we will be using excel 2007
b. My company just upgraded to sql server 2005):

1. I would like to know what kind of data mining I can setup for
excel 2003 and excel 2007. (Are there addin ribbons to excel where I can
increase the datamining that can be displayed in excel?)
2. I believe you can use Analysis Service to display data in
excel. Does the data that appears in excel need to be directly connected to
the sql server 2005 database or can the data be stored in a 'disconnected
manner'. (The data would be stored in the excel spreadsheets0
Can you point be to references on the internet and/or answer my question?

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