Do I need to uninstall all higher versions of Visual Studio just to reinstall VS 2003 successfully?

I have Visual Studio 2003, 2005 and 2008 installed on my machine + my OS is Windows 7. Both 2005 and 2008 are working properly except for 2003.

I have a project that still needs to be compiled in VS 2003. I have setup-ed it in IIS7 and it is working fine but when opening it in VS2003 it prompts me...

"Visual Studio .Net cannot create or open the application. The likeliest problem is that the required components are not installed on the local Web server. Run Visual Studio .net setup and add the web development component."

I even tried to re开发者_StackOverflow中文版pair it but still did not work.

Are there any solutions or should I really uninstall the other VS?