Is there anything in Word like the Advance function in Word Perfect, where
you can move the insertion point in a string of characters up, down, left or
right by small amounts, like 0.01 inch?

I use this, for example, to "fill out" a printed form that I have scanned.
I make the graphic full size and then want to insert text on top of it (e.g.,
name, address, etc.) in the right place. The placement of space for text
does not correspond to the line height of my font. I also need to put check
marks in boxes, etc.

I am using Office 2003.