I am given a job to upgrade sqlserver 7 to sqlserver 2000. Microsoft documents indicate
sqlserver 2000 is compatibble with sqlserver 7 in most ways and that it is so simple
to upgrade to sqlserver 2000.(Through version upgrade, restore/backup or detach/attach database)

In my case I have to use version upgrade, because I don't have a new server for sqlserver 2000.
I don't want to do a version upgrade like the documents said, which it overides sqlserver 7, if
something goes wrong it would be hard to get back sqlserver 7.

Questions are:

Can I install sqlserver 2000 (default instance) on the same machine with sqlserver 7, then do
a version switch (like I can do with sqlserver 6.5 and 2000), which I can switch to sqlserver7
detach database, switch to sqlserver 2000 attached database ???

What possible impact would it have on our application. Would we have to
test every function on our applications like we have to when we upgraded one of our
sqlserver 6.5 to sqlserver 2000. ?

Would the behaviour of SELECT , UPDATE, INSERT ... change in sqlserver 2000 ?

Does sqlserver 7 by default use SQL92 standard like sqlserver 2000 ?

Any helps and suggestions are appreciated.