I´m making layout on a book in Word 2010. It looks like I want it to now, but the formating is lousy, and since there´ll be more volumes of the book, I want to have the file reformated in a new template, that defines all the typographies and setttings. The file size is now about 7 Mb, which is far too much.

Q: Do I 1) Set up the new template first, paste the whole text into that and start reformating and cleaning up or 2) Make everything in the old file and then save as new template??