Hardware/software compatibility question MEGA 2560 versions

Wasn't sure where to post this since it involves hardware and software.
I want to do the project "Ethernet Switching - with Arduino" located at instructables.com. It uses the Arduino MEGA 2560
and the Arduino Ethernet Shield. It looks like the project was written about a year and a half ago.

Question time: will the newer "R3" versions of these board work with code written for the original version?
I'm up for some code tweaking if it doesn't get too hairy, just trying to anticipate what I'm getting into before I start throwing around $$.

In a word, Yes.

Good word! Thank you Tom.
Project has green light from employer. :grin:
Expect to see me back with dumb questions.