There's some nice mail features in Outlook 2003, I particularly like the 'Follow up' folder which gets created. As for the rest of the applications, I'm not enough of a power user to have found any differences yet
Obviously the answer is 'it's up to you'. You have to decide if what you have works or if you think you need the changes in the newer version. I personally would never pay for Office, I got a license to use at work and I really only use Outlook with that even. I would just use OpenOffice or AbiWord+Gnumeric if I needed them for home.
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