Slacker,
That's right. Your commands are slightly different. There is also supposedly another way according to the manual, that I was never able to execute with Office 95 or MOP 2000 (Yes, I first tried this 7 years ago - and I am also very stubborn about figuring things out myself, obviously). I wrote this out for Scott, logged on to paste it in and then found your post.
Thanks
With the insertion bar at the point in the text you want the words "Figure 1" to appear:
1. Click Insert and Caption (or, as a macro ALT-I, C)
2. Click Figure and OK
So, I exaggerated, it is 4 clicks, not 3. The program will automatically update each successive entry as "Figure 2, 3, 4 etc."
Later, you go to the place in the document where you want the "Table of Figures" to appear, probably under the Table of Contents.
Click Insert, click Indexes and Tables, click the Table of Figures tab, and click OK.
Along the way you will see options for formatting the text of "Figure 1, 2, etc." The default font/format is Time 10, Bold, Flush Lert.