Using Word as your e-mail editor in Outlook 2003 is nearly impossible... it's just SOOOO much slower. Of course, in Outlook 2007 you don't have a choice, but it's much faster than in the past.
One of the best new features though - something which may exist now, but I certainly can't find it - is the ability to have "Paste Special -> Unformatted Text as the default. No need for, say, PureText (which, by the way, I recommended back in 2004).
Under Editor Options -> Advanced, you'll see the following options.

So you can finally - at least within Outlook and Word - have Paste Special -> Unformatted Text as the default option for paste!
Tags: Office 2007, Office, Office-2007
