OpenOffice is a open source (ie. free) alternative to Microsoft Office. It includes the “Writer” word processor, “Calc” spreadsheet, and “Impress” presenter (ie. PowerPoint). It also includes a database, math equation editor, and vector graphics program (ie. Visio). You can download the latest version (for free) at http://www.openoffice.org/
It can open and save Microsoft Word, Excel, and PowerPoint files. Occasionally some of the formatting is off, especially with tables, but overall it does a great job. I have been using OpenOffice as my main (95%) word processor and spreadsheet at work since the spring of 2005 and at home (100%) since the fall of 2006.
I do not find the Impress presentation program as easy to use as PowerPoint, mostly because of the lack of built-in templates, although many can be downloaded at http://ooextras.sourceforge.net
Overall OpenOffice is a great product and the price is right.
-Prof. Lehman