IE7 mode in Internet Explorer 8

Question

How close does Internet Explorer 8 mimic IE7 when you set the browser mode to Internet Explorer 7?

Answer 1

Hard to quantify, but here's a list of specific differences.

Answer 2

It appears to be extremely close if not 100%. Microsoft even supports allowing websites to force the compatibility mode to occur.

http://www.microsoft.com/windows/internet-explorer/readiness/developers-new.aspx