I don't think I'd uninstall Word but Excel/PowerPoint/Access could be removed
if you never use them.
You don't mention XP or Vista but individual components/programs can be
removed through control panel > add/remove programs. Choose the "change"
option (not remove, not repair) after clicking on the Microsoft Office line.
You'll eventually get a listing of the office components with dropdown
selector to their left. Drop down the selector and choose Not Installed.