The drop down list does not offer the option to select M/D/YYYY so I just went ahead and typed in M/D/YYYY on the Data Format line and then ran the data through the validation editor and it worked fine.
But MM/DD/YYYY should have work on a date like 1/1/2007.
Anyway, thanks for the tip, I'll keep trying to see if i can get ETL to ETL my data set into the proper, final structure.
Michael