grab it because down the line someone you know will need it. you might also need it. keep it in a folder. i have a programs folder thats like 90 gigs i save just about everything and delete old shit every 2 years or so.
as far as installing it, nah i wouldnt. if all you need is word, what's the point. i have all the office flavors (enterprise, pro, blue, etc) but the only thing i have installed is the standalone version of word 2007. i dont need all that other shit but thats just me.
the good thing about this one though is that it needs no activation. just install and go.
burn this shit to disc for a rainy day bro. trust me you will need it at some point. your girl will either need excel or powerpoint at some point. thats why i save everything