There are a lot of people here defending the current iWork applications citing the fact that Apple would have had to build the suite 'From the Ground up' (I love it when people say that - so technical!) and it's a universal platform etc. New features are coming, and so on.
While this may be true, the fact remains that features and therefore workflow have been reduced in what is essentially a public beta program. If features are to be gradually added back in when it's possible to do it across platforms, then it's likely that the software wasn't ready for this new launch. There is no reason that the whole cross platform universal iWork project couldn't have waited until it was of equal value to the feature rich(er) previous versions.
Personally, I need to use iWork on my desktop today. I can live with not having iCloud and share features, web apps and iOS for the time being, but free or not the new iWork OSX implementation is severely lacking in functionality. The oversimplification of Numbers has crippled my workflow and costs me more time and effort sussing out complicated workarounds to simple UI or menu problems. And these are just the problems that can be found on a superficial level - some of the formatting and rendering problems are perhaps more critical.
I love Apple software - I generally use stock applications (Mail, Calendar, Safari etc) across the board. I always thought Numbers and Pages wiped the floor with MS Office personally, but this release is too beta and it's not funny.
BTW It reminds me of the MobileMe debacle, so please don't think I'm going all 'This wouldn't have happened under Jobs' on you.
If Apple have the faculty to fix this, and they are presumably aware of the problems, then perhaps they should have waited until the software was ready before crippling it.
And also, I'm not expecting that Apple can just throw resources at it and that's why they got it wrong. I think it's deeper than that; I think that from the developer stand point iWork was mistakenly simplified to get it to release as quickly as possible to showcase universal cloud based applications in the wild - no mean feat to be sure, but at the expense of a clear usability and feature set Apple's judgement and timing is clearly off this time.
Yes, you can use the previous versions, and I do. But defending Apple tooth and nail is a little blind and it doesn't change the fact that (shock-horror!) they actually got this one wrong.