Office 2008: .doc vs docx

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I just purchased my first ever Mac a month ago, and need to purchase Office 2008 . I have tried to understand the difference regarding saving files as .doc vs. .docx. I understand that .docx is the newer version, but does it make more sense to automatically save everything as .doc so that the documents will be compatible with all versions of Office?

What are the benefits of .docx over .doc?
 
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docx was Microsofts attempt to create an open standard, despite the fact that there are already open standards out there.

Just for compatibility reasons I would save any document you intend to share as .doc
 

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