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You can run office for mac, open office under X11 or neo-office. All of them handle MS office formats.
I've found that text edit on os x can read most word documents.
Actually . . . Office 2008 for MacRemember that Office for Mac 2007 has been announced, and is due in the second half of this year. The main reason a lot of people use office on windows is for outlook, but on the mac Mail, Calendar and Stickies do a more than adequate job - though you'll find people who swear by Entourage ("Outlook for Mac") and other clients.
Why not wait for Office 2007 since 2004 runs under rosetta (not yet Universal Binary). Try Neo-office in the mean time