Saving your work in ASCII is a real good thing as everything can read ASCII without any trouble at all.
Spelling and grammar count for a lot also.
Most of all, read your markets "Writers Guidelines" thats where they tell you all these little things you really do need to know. When in doubt, ask. (This is making the assumption that you have a market or publisher already picked out. If not see comments on ASCII above)
If you don't have a market picked out consider the self published e-text market. If you go that route you are talking
Hope you do well with your project!