It does nearly everything I need and is pretty quick.

However, I am in interested in the OpenOffice saga for one main reason:

PowerPoint.

As a teacher, I get a lot of materials in PowerPoint format. Usually, I load them into someone else's PC and export them to HTML format. (Bizarrely enough, the course materials for our UNIX sysadmin class were all in Microsoft formats, including the test generator, which was Windows-only. <boggle>)

I've tried ThinkFree Office and it seems to open .ppts well enough but I've also used OpenOffice on Linux and it seems to work better.

So I'm looking forward to OpenOffice 1.0 on OS X and judging by the reaction to this announcement on the various Mac boards, lots of other folks are as well.