A: Yes and no. As part of the migration from System Center Configuration Manager 2007 to System Center 2012 Configuration Manage, a new Configuration Manager 2012 installation must be created and then connected to the old Configuration Manager 2007 deployment. Migration wizards are used to migrate applications and updates from 2007 to 2012. As part of this migration, existing distribution points can be shared between Configuration Manager 2007 and 2012.
This sharing of existing distribution points requires additional disk space, as the content is left in the Configuration Manager 2007 format and converted to the new Configuration Manager 2012 content library format. During this co-existence period, both the Configuration Manager 2007 and 2012 sites are using the same distribution points.
However, Configuration Manager 2012 can't add any new content to the distribution point. New content can only be added from Configuration Manager 2007 (and the migration process must be continually re-run to get new content onto Configuration Manager 2012).
Only after the distribution point is converted to a native Configuration Manager 2012 distribution point can new content be added from Configuration Manager 2012. This means while a distribution point can be shared between Configuration Manager 2007 and 2012, it really has a lot of limitations and is only supported as part of the migration process and not for prolonged periods.
There's no support either for creating separate distribution points on a single OS, one from a 2007 site and one from a 2012 site, because of conflicts over IIS and port configuration.As a workaround to using one physical server, you could create virtual machines (VMs) on a single physical host and have a distribution point in each virtual OS.