DBCC Shrinkfile

I ran a dbcc shrinkfile after deleting data in order to take thte db down in size and it has been running for 2 days. Can I canel the command? Will the file be partially shrunk? Last year when we did this I ran a re-index command. Will I have to run a bakup or truncate log command? I have been trying to get the client to upgrade from SQL 7 but they just have not done it yet.follow up question. If I cancel how long will it take to finish the cancel operation?