If the database was in place when you patched SQL Server 2005 to SP4 then yes, you can backup the database and restore it on SQL Server 2005 SP3. If the database was created on SQL Server after it was patched to SP4, then you cannot backup/restore a database to an earlier version of SQL Server (i.e. SQL Server 2005 SP3).
Reference: TechHowTos.com (http://www.techhowtos.com)
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