Ok So the news is late breaking because I simply failed to note it.
In any case what you as a SOHO user needs to know is that Microsoft has added support to the document format that Open Office uses. For you that do not know – there is a Free Open Source Productivity Suite (http://OpenOffice.org) that can do almost everything that Microsoft Office can do and then some!!!.
Since we here at SOHO-411.com are all for free and low cost technology solutions we think this is a great product.
 
 Currently OpenOffice is in version 3.0 and already had the ability to read and write most Microsoft file formats. Now that Microsoft is embracing a file exchange format other than it’s own you are sure to reap the benefits. You as the Small Office user can install and use a free software that is compatible with Microsoft Office.
The Microsoft change to allow this compatibility from their end came with Microsoft Office 2007 Service Pack 2.

You can read a little more about it here: http://digg.com/d3RzET