I was also wondering is there any way to install Office 2008 and just keep
Word 2004? Or alternatively is there any way to delete specific applications
from the previous sweet so that i can install the office mac 2008 and then
keep word only from office mac 2004?
Yes, Each is installed in it's own folder. Just be aware that you should
install 2004 first. Entourage 2008 moves fonts to a different location
disabling the older 2004 fonts. If you install 2004 AFTER 2008 it will just
reinstall them.
Office 2008 Font Install:
Office 2008 uses a different method for fonts and many fonts are new
versions. Office 2008 will install fonts to the /Library/Fonts/Microsoft
folder. By being at the root, then all users on the machine have access to
them and you don't get Office 2008 putting multiple copies on the machine
for each user.
The installer will scour /Library/Fonts/ and ~/Library/Fonts/ for fonts with
the same name and move them to /Library/Disabled Fonts/ or
~/Library/Disabled Fonts/ depending on where they were found.