It actually works pretty well. However, you have the following drawbacks:
- Office 2008 (for Mac) actually has less features than Office 2007 (for Windows). For starters, you have not Macro support. This is good for viruses, but bad if you need them. However, the next version (December 2009?) should have this fixed, apparently.
- You don't have Outlook, but instead you have Entourage. It's 100% compatible Exchange, but doesn't use the same PST format for storing data. So data migration is a pain. Once again, the next version of Office for Mac will drop Entourage and propose an Outlook version.
- Every Microsoft application start the Microsoft Database Manager. This is pure Microsoft bad architecture. Basically, Word, Excel and Powerpoint need this database manager to centralize data (apparently, Microsoft architects are unfamiliar with UNIX file organization...). This actually works okay if you database is small, but mine was relatively large (3 Gb), so it constantly crashed and I had to rebuild it every couple of weeks of so.
- Last, the layout is poor. Office 2007 uses a nice task-oriented menu at the top that once you get used to it, it works very well. Office 2008 uses the Inspector floating window which is terrible and always in the way.
Bottom line, if you need Office compatibility, it works great. But be aware of the "Microsoft" limitations...
Hope this helps! Good luck!