Word can handle formulas and whatnot. ?It just
doesn't do as good a
job as TeX/LaTeX/AMSTeX/etc.
Correct, but Word can do most things quite adequately. What it can not
do, academic writers can often "fake" (sort of like the old days where
handwritten symbols were used), or they can use TeX. It appears that
these days TeX is actually only used as a very last resort (or by
diehards).
In any case, TeX ceased to be the academic standard quite a lot of
years ago. The academics I know seem to have rejoiced when PC/Mac word
processors finally could do most of what they wanted, and they could
go tell TeX to go take a walk in the woods.
--
Will