I downloaded the Office apps, looked at a few reviews, and have seen some of the tweets. The short answer for those of us who live in an enterprise and Office world, this is a big deal. I opened up a couple of Powerpoint presentations that get severely mangled with alternative apps and they look marvelous.
While a lot of the Apple and Apple blogging world that eschew Word (albeit for good reason), it is the workhorse for a unbelievable amount of folks. It took me about 30 seconds opening up the apps and a few documents to push the button on the Office 365 subscription. I'm looking for Word, Excel, and PowerPoint to be in the top grossing apps shortly. Apple got its 30% cut and Microsoft sold me on the subscription model.
My recently posted converting Word to PDF automatically is obsolete.