New
#11
I'll throw in that I had both Office 2007 and 365 installed. When you install 365 it becomes the default for all office operations, but it does not actually impair 2007 at all. You can still open files from 2007 and operate them normally. I personally loathed 365 and uninstalled it, though I understand that if you need to collaborate on docs or otherwise operate in the cloud, it may be essential to you.
Any way, leaving 2007 installed on your system does not harm beyond occupying disk space, and leaves you a fall back position if 365 doesn't work out for you.