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Purchase Requisition within Sharepoint: Form or List?

We have been using a fairly limited document library system within Sharepoint 3.0 to raise, submit, approve and archive Purchase Requisitions within out company.

I created a near exact copy of our old carbon copy reqs within Excel and gave it some functions to calculate totals and budget holders etc. It works, but it's still a little clunky and not 100% foolproof.

I'd like to look into upgrading this to a more stable method and I was wondering if there would be any experts out there who could point me in the right direction - translate the document into a form with InfoPath, something I don't have a lot of experience with, and I believe each user would need Infopath Fillrer to edit it? Or into a List which i believe would be a bit of a fiddle to get working, but does do away with a document.

I have included a copy of our purchase requisition below, please cast your expert eyes upon it :)
purchase-req.jpg
Microsoft SharePointInfoPath

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Microsoft SharePoint
Microsoft SharePoint

Microsoft Sharepoint is a software platform and family of software products used for collaboration and web publishing combined. These capabilities include developing web sites, portals, intranets, content management systems, search engines, wikis, blogs, and other tools for business intelligence and collaboration. SharePoint has a Microsoft Office-like interface, and it is closely integrated with the Office suite.

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