Oh, everything will work. But perhaps not as you would like. If you have special formatting in mind, you need either a CSS stylesheet or do some makeup in the book view of Sigil. Keep a good look on the span tags, they can usually be removed without much problems.
The font part you can delete without problems. I would recommend getting Liz Castro's book, EPUB straight to the point. It is intended for iPad, but there are some good things in there. There is a chapter of how to create a nice epub from the Word junk.
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