Yes. There are some things that can be saved in a template that cannot be
saved in a document (these include AutoText entries). Moreover, a template
created as a template from scratch can inherit from the template it is based
on (AutoText, macros, custom and customized toolbars and menus, shortcut
keys, etc.), whereas a document saved as a template will not inherit from
its template.
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Suzanne S. Barnhill
Microsoft MVP (Word)
Words into Type
Fairhope, Alabama USA
http://word.mvps.org