Both report and Word template produce paginated documents (therefore suitable for printing) and are capable of iterating over multiple object instances. Reports are generated as PDF files, which unlike Word documents are non-editable and more universally accepted. This may influence your choice of the template type.
If the number of attributes for a single object is large and cannot fit on a single page in a report, the solution is to create separate smaller reports, each for a subset of the attributes. Then you can include each of the separate reports as a sub-report into the main report. A new page will be automatically opened when the report is generated if the contents cannot fit on the current page.
Alternatively, you may increase the size of the main report to fit all of the attributes on a single page. This, however, would result in a non-standard page that may not print properly.
You can also include sub-reports that iterate over multiple (usually related) object instances. Please see the Member Details report in the Library sample application for an example.
In Word templates you can use functions like SUB_DOCUMENT and LIST_TABLE. Both have been successfully used in a number of applications including a complex document with conditional inclusion of many subdocuments and related objects. Please refer to the User Guide for details on how to use the functions.
