New Excel Features - Use of Integration,Formatting and Formulae in BI 7

Hi Experts,
I had a look at the Excel integration section of the BI 7 Features and found the some new enhancements for Excel.We are planning to upgrade to BI7 and want to get some expert opinions
1. Excel Formulas allow access to any cell of the result set.
2. combining Excel formulas and Excel Formatiing allows the design of high end formated solution workbooks.
Can anyone explain me the difference between the Excel features in BW3.5 and BI7,with some real time examples.
Does it mean that we dont need any macros to execute some of the calculations or if there a different use in BI7?
Can i use all the features in MS Excel 2003?
Can I use the Existing Bex Browser and create new BI7 workbooks or do i need for Enterprise portal?
Thanks
Mike

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