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Difference between "Comma Separated Values" and "Comma-Separated Values (Windows Excel 2007)" when exporting leads

Question asked by Pavel Plachky on Jul 7, 2016
Latest reply on Jul 7, 2016 by Sydney Mulligan

When exporting list of leads, there are several format options on the Export dialog box as follows:

Does anybody know what is the difference between the different formats? I am mainly interested in the way special characters (and character sets) are handled in each format. The documentation at Export Leads to Excel from a List or Smart List - Marketo Docs - Product Docs  is not covering the topic at all.