The latest update (15.10) fixed many crash/hang issues I was experiencing. For my fairly basic needs, it's solid now. I have it installed on a 2014 iMac (8Gb) and a 2013 Macbook Air (4Gb) and all the applications run well, though there is some start up lag. The download installer is 3.6Gb and all the apps are nearly 7Gb installed.
Hopefully, the start up lag will get better as they optimize the code. Just for comparison, my entire Office 2011 App folder is 1.32Gb. Excel 2016 alone is 1.6Gb, Word 1.7Gb, PowerPoint 1.55Gb, Outlook 1.02Gb, and OneNote is 650Mb.