Don't know about 1972 --not sure which version of Windows the TX ANG used then; but in the AF today all Awards, Performance reports and official correspondence is done in Courier 10, 12, or 14. I have been in the USAF for 23 years, and every doc I have done on a word processor has been in Courier 12.
Now the unit I am in currently does use Times New Roman 12 for "Soft copy" correspndence.
The reasoning for using Courier is that it is the closest MATCH to the old documents done on Typewriters.