I heard the news about Google Docs & Spreadsheets on my favorite radio station. And the announcers seemed pretty enthusiastic about this. Their arguments were easy to digest: there is finally a real competition for Microsoft in the Office arena, you can edit your documents from anywhere and the tools are free.
Google has a big opportunity to take online office suites to the mainstream. Maybe they don't have the best features, but they are the most scalable. And this the winning point if you want to bring Office to the web.