Your main question will the latest product not be able to run older 
versions of the OS?  True.  There is LIC or Licensed Internal Code, that 
has been updated for newer hardware.  And they won't cobble old code to 
support old hardware into newer releases.  You can't run Windows 10 on a 
dual diskette PC.  You can't run DOS 1.0 on the latest laptops.
My questions:
Will your existing machine run anything higher than V5R4?  What model is 
it?  WRKHDWRSC *PRC 
See this chart:
http://www-01.ibm.com/support/docview.wss?uid=ssm1platformibmi
Is the vendor getting a 'new' machine, using one they already have, or 
trying to buy a used one on the cheap?
Make sure that the platform will run everything from 7.1 to 7.3.  I've not 
yet heard of a machine which will run 7.3 but won't run 7.1.  However 
there are machines which will run 7.1 but not 7.3.
http://www-01.ibm.com/support/docview.wss?uid=ssm1platformibmi
Even though you are skipping 6.1 it is imperative you CLOSELY read the 6.1 
version of the Memo To Users (MTU)
http://www.ibm.com/support/knowledgecenter/ssw_ibm_i_61/rzahg/rzahgmtu.htm?lang=en-us
Read the 7.1 MTU closely
http://www.ibm.com/support/knowledgecenter/ssw_ibm_i_71/rzahg/rzahgmtu.htm?lang=en-us
Especially (but not exclusively!) the part about ANZOBJCVN.
Rob Berendt
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