It's been less than a day since I installed Office 2003 for the first time, and I've already had Winword.exe spin at 100% CPU while composing an e-mail in Outlook. Not terribly encouraging. Fortunately, killing it in taskman didn't hose Outlook.
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In Outlook (Haven't got it in front of me, working from homoe today) You can tell it to use Word as the default Editor for HTML and RTF emails , which is why it's loading.
I personally think that all HTML/RTF emails should be banned :) That would stop the worst spam.