Office 2003 and 2007 installations

Good afternoon. I am posting this for some clarity on using Office and how
to install. My company met with a software company similar to Citrix. I
have worked a bit with Citrix so explained to my boss that we would install
all Win32 Applications on a Terminal Server and this would include Office,
Adobe, ect.

After the meeting my boss mentioned to me that the vendor said that he could
run the Office 2003 suite over the network and it would not require local
processing at all and it did not have to run on a TS box.

Can someone please confirm that this is true and can it be done with Office
2007 as well? Also, any KB or articles on how to install it this way would
be great. I always thought you either had to install it on a TS box to run
it for multiple users or run it locally on each PC.

Thanks,