Richard,
Many of the reports that I generate need to be in the form of client letters.  Copying and pasting to Word is tedious.  I just figured out how to solve most of my formating problems.  
This is, apparently, new for Access 2007 and only applies to fields with the memo type.
Starting with the Table, in design view, change the property for the field to Rich Text.  You also need to set this property in the forms and reports that use that field.  Now, when you enter information into a form, you can add bullets, numbers, and other formatting to single words or phrases.
Another problem was fully justifying paragraphs.  Open a Report in design view and change the text field property to Rich Text.  Scroll down a little further and in the Text Align property, change from General to Distribute.  This works in Unbound and Concatenated text boxes as well.
Now all I need to do is email my report to myself or to other people in the office as a pdf.

Thanks,