Export database from 7.0.x to 7.1.x - possible?

I have a 7.0.3 site and want to move to 7.1.x. Is it practical to do so by moving the database from the old install and into the new one?

No. The most you could easily do is the Profiles table, but make note of any custom fields. I'm not sure about the modules.

As Nathan indicated, No. There are about 12 upgrades from 7.0.3 to 7.1.5 which means there have many updates and database changes since 7.0.3.

First step is to backup everything, site and database.  Also, you do not apply the betas.