With my first novel I wasted hours cutting and pasting and changing chapter numbers. -But I am a foolish time-waster no more (well, still a little foolish). I learned to use Outline View (part of Word, so you already have it) which lets me easily shift whole chunks of my novel and then automatically renumbers
my paras for me!
I SO recommend this nifty little feature of Word that I didn't even realize I had, and have guest blogged about it at http://crazyladywithapen.blogspot.com/2011/08/please-welcome-tracey-wood.html
Oh, you probably guessed this, but for those as un-technologically savvy as me, -because it's part of Word you can still track changes (when your dream agent finds you and asks for a few tiny ones