For Word documents, I use WFP only when the document is unusually complicated. Essentially text boxes, but also multiple and/or large graphics, complicated columns and other formatting such as paragraph numbering, although Office 2010 is better in the latter respect than earlier editions.
Otherwise, having to deal with WFP (such as project management) is not worth the hassle.
Certain word documents have texts on text boxes or graphic e.g. Word Art. I usually use WFP in this part since it is simple to handle.