Jfg,
Not really no, the difference lies in the interface mainly.

Hi JFG,

As Luc mentions the interface is the most visible change, but one of the reasons behind changing to the ribbon was that MS's
research showed that many people were not even aware of, much less using, many of the features already available in Word, Excel and
Powerpoint.

The ribbon is intended to make the features more visible, to have you increase your knowledge of what is available in each app and
to be able to more easily use it, so in that vision, where folks will be making use of more styles and other features the MS view is
that there will be a change in the perceived functionallity of the program.

There are new formatting and layout features as well, and it will be interesting to see how, after a 6-12 month period of use, folks
have found new ways (to them) to use Word differently.   In part that evidence will come if we see new or different questions coming
in than those posted here for the prior versions.

If you collaborate with others on documents then that mechanism has been revised to work with MS Office sharepoint rather than by
email routing.  So, how much 'change' there is can depend on how often you use Word, whether you work with others or alone for the
most part and the procedures you use for working in Word today.

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Is there that much of a difference in functionality between Word 2003 and Word 2007?>>