iWork'08 is only $89 while Office 2004 is $249...I am sorry but I will not pay that mcuh money for a stupid Office. I would rather use Openoffice...which I think it is one of my options but is iWork also doing word processing and powerpoint stuff? If so, would I be able to convert the documents I created in iWork to work on other Windows based PCs?
Just to balance this thread, I am gonna say this.
iWork is not Office. It lacks some fundamental features and certainly a lot of advanced features of Word and Excel. 99% of people would not notice, but if you use Word daily to create documents for work, you'd start to notice. Numbered headings for a start in Pages just does not work as easily as it does in Word (either Office 2003, XP or Mac Office). Additionally you can export Office documents to PDF on the Mac. The PDF conversion is not an iWork feature, it's an OS X feature.
OpenOffice is close, very close, but not 100%.
I love Keynote, but it WILL mess with your fonts and bullets if you open a Powerpoint, and yep I tested it. It also likes to mess with any auto-sizing done in Office XP, yep I've tested it. The lovely animations you get on Keynote are great, but you would not use them for your average Wall Street presentation.
Numbers is pretty good, easily enough for home users. If you built a 60,000 line Excel Macro for processing algorithmic Futures Trading though, stick with Excel.
With my little rant over, IMO iWork is suitable for 95% of users, with OpenOffice probably suitable for 99%. But can people refrain from dissing Office; many people's lives depend on it - and yeah I am 75% of the way through a huge document for work this evening I am doing on Mac Word. I could never do this as easily on Pages...