The Visual C++.NET (7) C++ compiler is better than the one of 6, so don't worry there. Do you use 6? Then your DAO version is even older (DAO 5).

If you only want your app to use the database (as I do) you can create the database with your app and only edit it with your app and you'll be fine. If you already have an Access XP DB, I think there's an option to export for an older version.

If you want to use .NET I recommend programming in C#, not Managed C++. It's easier to use and you probably don't need any of the features of Managed C++.