It's been a while since I've seen a good comparison of word processors. It seems that Microsoft Word has become so dominant that it's overwhelmed the contenders into obscurity. So, I read Comparing Word Processors: A Writer's Perspective with interest.
The price is far too high for what you're getting, and the licensing can best be described as draconian. Three or four years ago Word was the best word processor on the market, but now that there are more choices available to consumers I strongly suggest you consider one of the other software programs in this review before making a purchasing decision. If you're dead-set on Word, try to find a copy of Word XP or 2000 instead of 2003.