Ha! LOL!! This is getting to be an amusing thread. You are partly right in that RTF is more cryptic and usually more verbose. And you have shown clearly that RTF is not a good authorizing language, rather an intermediate code.
But part of it is just the way MS-Word does things. For a reverse look at things, here is the really operative bit of the RTF:
{\insrsid11693386 \hich\af0\dbch\af11\loch\f0 The }
{\b\insrsid11693386\charrsid11693386 \hich\af0\dbch\af11\loch\f0 quick}
{\insrsid11693386 \hich\af0\dbch\af11\loch\f0 }{\i\insrsid11693386\charrsid11693386 \hich\af0\dbch\af11\loch\f0 brown}{\insrsid11693386 \hich\af0\dbch\af11\loch\f0
fox jumps over the lazy dog.}
Whereas when I have MS-Word generate the HTML, this is what I get:
(I don't know how to turn off the auto smiles)
<html xmlns

="urn:schemas-microsoft-com

ffice

ffice"
xmlns:w="urn:schemas-microsoft-com

ffice:word"
xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv=Content-Type content="text/html; charset=windows-1252">
<meta name=ProgId content=Word.Document>
<meta name=Generator content="Microsoft Word 9">
<meta name=Originator content="Microsoft Word 9">
<link rel=File-List
href="./The%20quick%20brown%20fox%20jumps%20over%20the%20l azy%20dog_files/filelist.xml">
<title>The quick brown fox jumps over the lazy dog</title>
<!--[if gte mso 9]><xml>
<o

ocumentProperties>
<o:Author>Ted C. Park</o:Author>
<o:LastAuthor>Ted C. Park</o:LastAuthor>
<o:Revision>1</o:Revision>
<o:TotalTime>1</o:TotalTime>
<o:Created>2008-06-19T15:42:00Z</o:Created>
<o:LastSaved>2008-06-19T15:43:00Z</o:LastSaved>
<o:Pages>1</o:Pages>
<o:Company>Personal</o:Company>
<o:Lines>1</o:Lines>
<o:Paragraphs>1</o:Paragraphs>
<o:Version>9.6926</o:Version>
</o

ocumentProperties>
</xml><![endif]-->
<style>
<!--
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{mso-style-parent:"";
margin:0in;
margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:12.0pt;
font-family:Arial;
mso-fareast-font-family:"Times New Roman";
mso-bidi-font-family:"Times New Roman";}
@page Section1
{size:8.5in 11.0in;
margin:1.0in 1.25in 1.0in 1.25in;
mso-header-margin:.5in;
mso-footer-margin:.5in;
mso-paper-source:0;}
div.Section1
{page:Section1;}
-->
</style>
</head>
<body lang=EN-US style='tab-interval:.5in'>
<div class=Section1>
<p class=MsoNormal align=center style='text-align:center'>The <b>quick</b> <i>brown</i>
fox jumps over the lazy dog.<o

></o

></p>
<p class=MsoNormal><![if !supportEmptyParas]> <![endif]><o

></o

></p>
</div>
</body>
</html>