Suppose I have an upcoming presentation to deliver with my group. I get an email with the latest copy of the powerpoint which I am supposed to review, add my slides to, and email back. I'll assume my slides are done and saved in another file.
1.) I get the email from my group with the powerpoint attached and I open it with Mobile PP.
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2.) I always check the first slide as my name is probably spelled wrong (it commonly is).
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3.) It is, so I edit the text box and fix the mistake.
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4.) I copy/paste my slides into the presentation, then move them into the correct order within the presentation.
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5.) Save the file and email the updated version to the rest of the group.
This is a pretty realistic situation, but it will be a long time coming to the iPhone, if ever. Nearly two years in and there's a paltry spreadsheet editor? A word editor is "coming soon"? Powerpoint - not on the horizon? Even if a mobile office app is eventually released, it will be fairly useless as it can't access documents from other file storage apps, can't download documents from a web server, and can't edit documents received via email.