Office 2007 will natively support ODF 1.1

[HavocXphere]

More info over here.

So what can Microsoft do to meet its customers' requirements? Notwithstanding the pedal to the floor pressure to push OOXML through the formal standards approval process, Microsoft is left without the actual ability to deliver a product that complies with an ISO/IEC-approved version OOXML for the indefinite future. Moreover, investigations by the European Commission are continuing regarding Microsoft's practices, including its conduct during the adoption of OOXML.

The most it can do, therefore, is to provide native support to that other format - ODF.

According to the article, Office 07 does supported ODF already via plug-ins etc, this will make some changes to ingrate it better. e.g. You can set ODF as the default format.

All my study notes are in ODF so I'm rather chuffed about this.