OASIS (Organization for the Advancement of Structured Information Standards), a prominent standards setting organization for XML based inter-business communications has started work on an XML format for [link|http://www.eweek.com/article2/0,3959,716573,00.asp|office produtivity applications].
Quite logically, Sun has contributed the OpenOffice file format as a starting point, as they're already pure XML and Open Source. Sun, Corel, Boeing and others are on the committee, but one prominent OASIS member, Microsoft, says it has no intention of participating (I just cannot imagine why).
That an organization with real credibility in standardizing business communications has adopted this project is encouraging. That Sun has been able to contribute a complete and already fully working XML file format gives the project substance.
That Microsoft, while boasting right and left of "XML standards" has opted out, casts considerable doubt on the companies intentions (for those who can still fit in any more doubt).