There is no need for separate partitions - which wouldn't address the situation anyway. You can run Office 2003 and Office 2010 on the same Windows installation. Preferably, you'd install Office 2003 first. As you've observed, though, only one version of Outlook can be used. The official Word from MS was that Office 2010 should be installed as a 32-bit app unless you really its enhanced capacity to work with exceptionally large Excel workbooks that 64-bit installations provide.
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Cheers,
Paul Edstein
[Fmr MS MVP - Word]
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