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Nope, you don't need the desktop version to use the PM and PS, but:
1) While you can still track your expenses with PM, you won't be able to synch nor 'backup' your DB individually (meaning you either do a complete backupu of your Ax, or no backup at all). This is the only reason why I installed the desktop version of MS-Money.
2) Just download the map files from MS' site ;) The desktop version just allows you to slice whatever map you want from it.
Cheers.
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"To be, or not to be is true." -- Boole
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