This is an interesting setting. I did a side-by-side comparison on paper, using a laser printer, it really does the trick. And compared to a printed book, the Wordperfect setting looks more similar, although a little squeezed in some places. Like I normally would, I condensed the normal text by 0.1pt to tighten it up, and it didn't even come close to what the Wordperfect setting did. It must be able to condense in smaller increments than Word's .01pt.

I'm definitely going to try this on my next book. Thanks!