Microsoft has finally launched "Microsoft Office Live" today (in beta, of course). This is the 'softies answer to likes of web-based and free Google Docs & Spreadsheets and Zoho.

Sort of.

Fact: Microsoft Office is a cash cow. Without it, Bill Gates' home would only be 25,000 square feet instead of 50,000.

Fact: Microsoft ain't giving that up.

Unpleasand Fact for Microsoft: Web-based companies like Google and Zoho are offering similar applications (even compatible with) like Office. Web-based and free! Google and Zoho's offerings aren't as slick and rich in features. But hey, you can access your files from any internet connection in the world and did I meantion it's FREE! Have you priced Office lately.
(not free!).

Check out Live Office Space. Microsoft is walking a very fine tight rope. Live Office Space is designed to compliment Office (so you still have to buy it). It's not a free, stripped down web version. There is a Small Business Version, as well. Once you delve into that "learn more" area, you will find three tiers of pricing packages ranging from free to about $40 a month.

You decide.