Just so you know.
The read only issue popped up on Windows XP running Word 97. What some discovered was Word was opening the file twice and the second time you get the read only notification. For Windows XP the fix was easy. Don't open documents from Explorer but from Word.
Remember that no permanent fix was every offered to this and the other anomalies. But why should this be an issue since almost everything you can do in Word 97 can be done in Open Office and you can keep your files in Word 97 format.