OpenOffice 3.1.1 3 is the leading open-source office software suite for word processing, spreadsheets, presentations, graphics, databases and more. It is available in many languages and works on all common computers. It stores all your data in an international open standard format and can also read and write files from other common office software packages. It can be downloaded and used completely free of charge for any purpose.

News source: OpenOffice website
Download: OpenOffice 3.1.1
View: Release notes

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Tested the RC release a couple of weeks back, and I would recommend it for those looking for a free Office Suite that gives them a Word Processor, Spreadsheet, etc. without out of the pocket expenses. It is not on the same level as Microsoft Office 2007/2010, but comes close to Office 2000/2003. It is a good alternated for students in high school and college students doing just the standard term papers. It is also a good choice for around the house work. Would not recommend it for working with large transcripts, or major office work.