Yes.

Yes. You should be aware that there may be issues if its an MFC
application, because VC7 uses macros that differ from those used in
VC6 (there's less of them). So if you maintain the code in VC7 for a
while then want to recompile it in VC6 (maybe the maintenance
programmer doesn't have VC7, say), you'd have a problem. I gave up
working with VC7 on code that had to be maintainable under VC6 for
partially this reason (I also couldn't stand the IDE of VC7).

That's the only issue I've come across, other than the VC7 compiler
being a bit pickier about adherence to the C++ standard.

--
Bob Moore
http://bobmoore.mvps.org/
(this is a non-commercial site and does not accept advertising)
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Yes and the same is true for VS 2005.

Thanks y'all for the helpful insight!