Thank you, Lamplighter. I'm so glad I didn't just click on the 'Update' button! I don't have time to wipe my hard drive and start again, and there's no way I will contemplate using Pages instead of Word. As you say, Pages is an imbecile of an app, inadequate for just about everything. I haven't used Quicken so far, but I use Powerpoint constantly and can't have compatibility issues. And I don't plan to pay $79 to install 'Parallel', which will likely have its own issues.
Apple may be on its way to a major loss in market share.