I have used runtime 2007 to run lots of 2003 data bases.
Unless it has changed you need to make up a lot of other things. For example, an error (maybe you have a spelling wrong for a field name in you code or macro) will result in the data base instantly closing.
If you have code or macro that opens the data base that needs to be an autoexec.
In my opinion runtime (2007) looks great but there is a lot of work to do one of them and especially with a big data base.
For whatever it worth, in a very high percentage of cases making data bases for small business (very often getting rid of Excel) those with MS Office Standard (ie. no Access) have bought Access.