I got issues when trying to do the upgrade
SW2007 SP05 installed fine
SWExplorer installed fine
DWGEditor installed fine
SW2007 Help File, couldn't be downloaded because it couldn't be located on the Solidworks server??? according to the error message.
PDMWorks 2007 Server SP05 downloaded okay, started installing and then error #1720 came up saying that a script couldn't run and that there was a problem wiht the installed, so installation was aborted.
That was my experience with the update anyhow.