Quote:
FileFormat Optional Variant. The file format to use when you save the file. For a list of valid choices, see the FileFormat property. For an existing file, the default format is the last file format specified; for a new file, the default is the format of the version of Excel being used.
The default file format is the version of Excel that is saving the file. So you don't have to mess with it, unless you have someone that needs to open an Excel 5 workbook and save it in Excel 7 format to "update" it. I wouldn't recommend that because it may be possible to lose some formatting when you change the versions and if the file has to go back to wherever it came from that person may not be able to open it because the file format may now be higher than the version of Excel they are using. If the file came in a 5.0, just leave it. Higher levels of Excel shouldn't have any problems dealing with a lower version file format.