Whether you’re in the office, at home, or on the road, Microsoft Office Web Apps help you get more things done virtually anywhere and anytime. These convenient online companions to Microsoft Word, Excel, PowerPoint, and OneNote offer you an easy way to access, view, and edit documents directly from your Web browser. Note: Some features from the normal MS Office Suite arent provided in Office Live Web Apps. More info »
Office Live is a load of hooey. The only thing it does well is transfer online documents into Microsoft Word (duh...)
Works much better with Office 2007 .***x files than Google Docs, but runs slower than Google Docs, and collaboration features are inferior.
Google Docs limited me, when uploading pre-made Word and Excel files. 500K was the max. Microsoft Office Live has allowed much larger files so far.