Well, trust me on this, working with text is FAR better in either 6 or 7 that it was in earlier versions. Currently, text is initially treated as vectors, meaning it is always editable (though to do some certain effects to it you do need to rasterize it).
In earlier versions text was always rasterized, meaning changing or editing it was a huge pain in the butt. I recall those days with a distinct gladness that they are long past...
