See
http://www.howto-outlook.com/howto/backupandrestore.htm .
Office 2003 Students and Teachers Edition *is* a qualifying
product for upgrade pricing when purchasing a retail version of
Office 2007 Standard, Small Business, Professional, and Ultimate
editions. See
http://office.microsoft.com/en-us/products/FX101754511033.aspx
for more information.
Office 2007 Basic Edition is an OEM version that is supposed to
come preinstalled by the computer manufacturer on a new computer,
and is not intended for sale directly to the general public.
Some online vendors and pirate websites offer this version to
anyone, but beware of deals that sound too good to be true.
Also, this version is licensed for installation on one computer
only (compared to three computers for a retail version of Office
2003 Students and Teachers Edition), and it cannot legally be
transferred to or installed on any other computer after the
initial installation.