Is it wise to install the Word 2007 now, considering that the new text format will be, in some cases, unreadable by computers with older packages (.docx instead of .doc).
Unless I'm mistaken...
1. You can download a free tool from Microsoft for MS Office XP and 2003 that make it possible to read DOCX documents (not sure if you can save as DOCX also).
2. Usually you can have two versions of MS Office on the same machine, not interfering with each other (not sure if this will be the case with 2007).
3. Version 2007 can save as Word 97/2000 format (the common DOC format, in other words), but I'm not sure if there is the option to make it the default format.
4. OpenOffice.org can't yet open or save DOCX documents, but you can bet it will happen sooner or later, and when it does, you can convert your documents to DOCX without having to purchase MS Office 2007, if a client insists that you send him a DOCX file.