Note that Excel 2003 allows 3 "layers" of conditional formatting.
Excel 2007 allows a bunch more and also different types of formatting
(icons, gradients, etc). Interestingly I think I found a glitch it
the system. I have my 2007 set to always save in 2003 format by
default. I created a .xls with formatting that SHOULD have work fine
in 2003, but when I emailed it to 2003-users at work the formatting
didn't work.... Just something to keep in mind. If you're using
2007, but sharing your spreadsheets with 2003 users, then makes sure
your setup is even going to work before you spend much time on it...