Will my Cubase 7 license also work with Cubase 6.5 or ANY older version? Thanks!
Should be ok in that respect.
Thanks Discoworx
Sorry for the noob questions (I am sure there will be a few more) but I am brand new to Cubase… I am crossing over from the Pro Tools camp therefore I am quite used to “limitations” 
Yes.
For example, it is the only possible way (as per Steinberg) to update or use older (really old) projects in a newer version of Cubase.