This is an interesting discussion because as a writer, I feel for the author when he spends more time formatting and learning the word processor than ever writing. One can lose oneself forever with futzing and tinkering and never get a damned thing done during the day.
However, the UltraEdit Text Editor (www.ultraedit.com) allows not only spacing, justification, and font selection, but will save the document in .txt, .html, or XML formats so that one's content can be imported to any other program. And if this is not your game, check out the sheer speed and simplicity of TextMaker (www.softmaker.de) - it's cheap, fast, will do 90% of what Word does and hey, only takes up 18Mb on your HD!
Either way, you'll spend a minimal amount of time futzing with the program, if at all.