Open Office is free, free, free. It offers software comparable to other major office software suites (yes, think Microsoft Word et al) and has won high praise from techies and non-techies alike.
There is Writer (word processor); Calc (spreadsheets); Impress (multimedia presentations); Draw (3D illustrations, etc.); Base (databases); and Math (equations editor and creator).
VUNET.COM gives it a five star rating.
PCWorld/India calls it "an excellent free alternative to Microsoft Office."
James Gaskin at NetworkWorld goes so far as to opine that small businesses should buy a few Microsoft Office packages, and fill out the rest with OpenOffice. It's a 80/20 analysis that seems to make good sense.
Me? I like it.