To add to what Jezebel has said, here are some more things Word cannot do:
* Wrap text around full-page graphics
* Create color separations of any kind (spot or process color)
Areas in which Word *may* be superior to *some* page layout applications
are:
* Footnotes/endnotes
* TOCs/indexes
* Multiple headers and footers (produced semi-automatically with StyleRef
fields)
Even in the above areas, however, Word sometimes falls down:
* If you want endnotes at the end of each chapter and restart numbering each
section, you can't have more than one section in a chapter.
* You can collect endnotes at the end, but you won't (without considerable
effort) be able to insert headings for the endnotes in each chapter or have
running heads that indicate this.
* TOCs and indexes *can* be constrained to look and behave the way you want
them to, but finishing touches often have to be applied after the fields
have been unlinked.