The newest version of Microsoft Office for OS X (called Office 2011) is shipping now. It sports many of the features of Office 2010 for Windows such as the "ribbon" and this is the first release that has a Macintosh version of OUTLOOK rather than the previous ENTOURAGE. Included in the Microsoft Office 2011 package are:
- Word 2011
- Excel 2011
- Powerpoint 2011
- Outlook 2011
- Communicator 2011
- Messenger 8

UofM bookstore availability has been delayed a bit (as is usual for new Microsoft products) while media is readied for the education market.

In the meantime, here's some information (FAQs, tutorials, "what's new?" videos, etc.) showing some of what the new Microsoft Office is for Macintosh is all about:
http://www.microsoft.com/mactopia
http://www.officeformachelp.com/outlook/faqs/
http://arstechnica.com/apple/news/2010/10/office-2011-for-mac-arrives-with-outlook-online-collaboration.ars
http://www.pcmag.com/article2/0,2817,2369733,00.asp