Too bad, Microsoft took too long so I went for iWork '08.
You know... it's funny you said that! I did the same thing. But eventually, I think M$ will "die out" on the Mac. What I'm trying to say is that Office on the Mac will loose is vamp. I think iWork is becoming the new Office. iWork can only go up hill from here. (at least I think so) That's just my two cents, and I'm probably wrong, but, again, it's that weird feeling I've got in my gut.

EDIT: While iWork is not as powerful... it will gain some of those cool features. And just for the record... I'm not talking about an overnight downfall... I'm talking about years and years away.