So I use Google Docs alot and in fact did a talk for TechNet 2008 about the possibilities of using it for presentations that are portable instead of using a gigantic Powerpoint file. I find it pretty decent. My husband and I have a budget we share on the Excel portion of it and my resume is in the document form. I took the template from one of google's online templates that was submitted by its users.
There are parts of google docs that are simply not as good as word, but the potential for use is too great to ignore.