Do you think it's too much work with the conversions and stuff and possible formatting differences or do you think it wouldn't be a big deal? I'm talking about for like high school or college
Check with your school's ITS department. I can typically acquire some version of office for around $50 via their microsoft licensing agreement. Mine doesn't have 2011 yet, but does have 2008 available.
I used iWork '09 for a while but I kept on having compatibility issues with the Office documents that I create on my Windows desktop. I got Office for Mac 2011 recently and have been very happy using that instead.