Google bought Web-based word processing provider and collaboration tool Writely. But maybe they should have waited for ThinkFree. This PC World piece has a very positive review/overview of the free and more complete MSOffice alternative.
The site is undergoing maintenance now, but this is what it says:
Whether you work in Microsoft Word, Excel or PowerPoint, with ThinkFree Office 3 you’ll feel right at home because it looks, feels and behaves just like they do regardless of whether you use it on Windows, Linux, or Macintosh.
Screenwerk 
April 24, 2006 at 5:08 pm
Nothing stopping Google buying these guys too right? They can certainly afford it and it keeps both companies away from competitors…
April 24, 2006 at 7:56 pm
Indeed.
April 25, 2006 at 2:51 am
How about having a look at the http://www.zoho.com for Zoho Sheet, Zoho Writer, …..