Having been playing with it today, a few things come to mind:
1. It's better than Office:Mac 2004
2. It's WAY better than Office 2007 in a number of areas
3. It faster than I expected it to be and very Mac-like
4. Entourage still blows...
5. It's rather buggy (nuthin' new there, then).
It's a step in the right direction, but still a tad underwhelming considering the vastly OTT price. If I wasn't working in a corporate environment, I'd stick with iWork, but Pages and Numbers really ain't compatible enough with Win Office for my purposes.
I'll admit, however, that I'm still quite happy to use NeoOffice (which has been my standard office suite at work for some years now and allows me to exchange documents with Windows users without a single problem in all that time), despite the slow launch and the less than elegant interface. I'm going to reserve judgement for now, though, as Lotus Symphony is just around the corner and might be the compromise I'm looking for - improved interface, improved speed (allegedly) and still running that OpenOffice core.
So, Office 2008? Another 'almost' good product from Microsoft. At that price I think I'll pass...