Hi Pavan,
Be sure to use the MS tool from the link below to also send your feedback directly to the MS Office 2007 Product team
You can set the default file format to 97-2003 by using Alt+T+O or going to
File[office button]=>Word Options=>Save
You can also add converters to support the Office 2007 file formats to use them on Office XP or Office 2003 by going to
http://microsoft.com/office/preview/beta/converter.mspx
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I have been using Beta for couple of months now.Intially switching from 2003
Pro it was hard to figure out things in the new Beta version but since than I
have found that it is far more advanced and user friendly.At present the only
problem is to remember to save programs in 97-2003 compatibility mode
otherwise it looks like gibberish on other computers.>>
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I hope this helped you,
Bob Buckland ?

MS Office system products MVP
LINKS to the 2007 Office System
1. Free MS Office 2007 book from MS Press, 213 pages:
http://microsoft.com/learning/office2007/default.mspx#booksfrommspress
2.. Office 2007 Beta 2 Online Test Drive, Downloadable beta,
e-learning courses, doucmentation and movies:
http://microsoft.com/office/preview
3. Send 2007 Office System Beta 2 feedback directly to the MS Office 2007 product team with this feedback tool:
http://sas.office.microsoft.com/
4. Try the 2007 OfficeOnline preview website , without Office2007
a. Install the ActiveX access control
http://office.microsoft.com/search/redir.aspx?AssetID=XT101650581033
b. then visit
http://officebeta.iponet.net