I use Neo Office and I'm fairly happy with it - it's not great - I prefer MS Office - but it is pretty good for something that is completely free.
Text edit is cool as well - it opens resumes that I've made else where but I've not tried to make something from scratch in it.
Abiword is also pretty good and although I've not installed it in OS X yet - I used it a lot in Linux and it really is top notch (still maybe not as good as MS Word - but then I think that is just because I've used MS word for so many years now)
Are you aware you can get MS Office for the Mac?
Your Options (google is your friend if you want to find out any more about these applications):
MS Office
Abiword
NeoOffice*
Open Office*
iWork <- I've not used this before so not sure how good it is.
Google Docs <- pretty good application from Google.
* pretty much the same thing