I import graphics by reference to a lower level directory, like \\Images. After I import the images, I resize them as needed. I've used this approach for 15 years with great success.

However, in Word 2007, when I close the file and reopen it (or print the file), Word loses the sizing information and imports the images at 100% (or it fills the text box or table cell), which means that I have to resize every image, clearly not a tenable workflow.

BTW, the import method I use involves an INCLUDEPICTURE field. It looks like this:

{INCLUDEPICTURE "{FILENAME \p}\\..\\Images\\Image.png" \* MERGEFORMAT \d}

It works great, except that Word can't keep the assigned image sizing. If anybody knows how to fix this, I'll be super grateful.