word processors with equation editors (appleworks, MS office, koffice, and others all have them), are OK if all you want to do is print it out and have it on paper (although LaTeX documents look a lot better than any equation editor i have used, but that s just my opinion)
the problem with using equation editor, is that you can t email the file to anyone, unless they are also running your program. you can t publish it on a website, and as soon as a new release of your office suite comes out, your files compatibility becomes questionable.
there is another open standard for writing mathematical formulae, specifically designed for the web. it is called MathML, and it is brand new. it is an extension of XML, and a lot of new browsers are supporting it (mozilla, omniweb, IE, on my mac support it at least to some extent). it is new, and i haven t used it yet, so i m not going to recommend it, because i don t know how well it works. mathML can be translated into LaTeX and LaTeX into MathML, so a transition will be easy. but my department still uses LaTeX.
here is the link for MathML
http://www.w3c.org/Math/
i really can t discourage you stringly enough from using a word processor equation editor. its nice to have a WYSIWYG interface, if that s what you re used to, but in an academic environment, the goal should be sharing ideas, and with computers, you should always use interoperable formats.