Scott, considering that you are just starting out, I recommend that you spring for the upgrade.
It will make your life much easier.
Being new, you'll most likely be doing a lot of simple spot color work. X3 or X4 has it's own Pantone palette, so you don't need to revert back to the ver. 8 palette for a printable white. The fit text to path option is greatly improved. You no longer have to resize in proportion. Text can be stretched vertically without it getting funky on you. Then there's the ability to use spot colors for drop shadows and transpareny. Smart Fill tool and Boundary tool will do wonders in helping create your underbase. There's "better" clipart included....even product blanks which you'll surely need.
I could go on and on. Tons and tons of options that you need and will actually use.
This is what I do. I create designs and color seps for screenprinters.
Trust me on this one.
Buy the upgrade.