I've been trying out Open Office, and have been pleasantly surprised by its utility. I've focused on Microsoft Word compatibility with Open Office.org Writer, and I can do most everything I need to. There is even a facility for change tracking that seems acceptably interoperable.
There is a very good chance that with my next laptop purchase I'll be able to avoid installing Microsoft Office, although I do hear good things about Office 2007.
And its tough to beat the price differential, since Open Office is a free download.
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