3. pressing Ctrl-F9 to create a pair of field braces (i.e. { });
. . . I had to do it twice for it to work: Ctrl+F9, Ctrl+F9

A. apply a suitable Style to it or its paragraph; or
. . . easier: go to the Home Group, and use font and size drop-downs

B. at Step 4 above, type 'PAGE \* MERGEFORMAT' between the field braces, so you end up with {PAGE \* MERGEFORMAT}, then format the 'P' of 'PAGE' with the desired font attributes.
. . . this requires a manual to understand what you're doing - what's the benefit, or application, over what I have above?

I think what I have above is better - all options of what you can use are there, and up to 3 fields. What more could you want?