But I was told by others that it would not work well and that there would be a lot of information and files missing. I don't know what the consultant's licensing agreement with Microsoft is, but it seems to me that he gave you the equivalent of a bootleg copy of Office 97. Upgrades generally go only to those who have paid full fare for an earlier version of the program or to those who can prove that they are switching allegiances from another, competitive program. In any case, the upgrade license is usually good for only one user. However, even if Gates does not track you down and shake the full cost of Office 97 out of your pockets, you may well have other problems.
Different companies have different ways of upgrading their products.
In some cases the upgrade disk will contain all the files necessary for a full and successful installation. In other cases, the upgrade disk may come with only those files that need freshening up. It may not include copies of files that are part of the program, but are not being outdated. So, yes, the friends who cautioned you may be proved right. Some day you may want to do something with Office 97 only to find that your copy can't oblige because it does not have the wherewithal to do your bidding.