Microsoft has released Office Web Applications (OWA). OWA comprises Word, Excel, PowerPoint and OneNote that run in any browser. Users can create, edit and share notebooks, spreadsheets, documents and slideshows free of charge, whether or not they have Office software installed on their computers.
SkyDrive is used as the storage location for your OWA documents with each user getting 25gig of free storage. One thing you will notice right away there is no Save option. The documents are automatically saved to your SkyDrive.
The functionality of the OWA applications while trimmed down from their rich client counterparts, is still quite impressive.