OpenOffice 3.1.1 RC2 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 RC2
View: Release notes

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OpenOffice 3.2 Dev is available for testers (Windows). So far only tested the Write program, and being in dev at this point there are a few bugs, however, it is fairly stable. It would load small to medium Word 2007 files, albeit couldn't load large files (over 100 pages - I edit large transcript and books). The test was done with a 345 page transcript, and to use a script this size written in Word 2007 it had to be resaved in Word 2003 format before it would load into OOo Write. Once that was none the normal methods of editing a transcript this size wasn't that much different then in MS Word. In the overall it isn't bad, however, the editing features could be a little smoother. Would have to say that it is pretty close to Word 2003 in features. Really waiting to see OOo with the ribbon format in Word 2007 and 2010.

Pam14160 said,
Really waiting to see OOo with the ribbon format in Word 2007 and 2010.

Yes, that should be nice. Hope they do a good job there.