1.) These are not 'really old'
2.) Yes they will work, but will probably require the installation of previous DirectX stuff.
3.) XP mode is rarely required for anything, it is quite literally a separate virtual machine running in guest mode.
Can I play really old games like from 2002 (Battlefield 1942 etc.) on Windows 7 Home Edition? It doesn't have the XP mode see.
Man, I am feeling old! My old games from the mid-late 90s require a Voodoo Graphics card for hardware 3D. My very old PC games date back to 1990, require DOS 3.0, and support Hercules monochrome, CGA, or VGA graphics! And my REALLY old games from the early 80s are text based and require BASIC!!
Correct. Right click on the short cut and select properties. From there you should be able to make it run as admin, and change the compatibility to XP /sp2 or 3. Once this is done you should be able to run most games. The oldest game I have running on Win7 is Diablo 2. It has graphical issues however so its not perfect.
Only thing you won't be able to do is run a 16bit .exe if you have a 64bit copy of windows. This means the seriously old won't install.