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I own Office 2000, 2003 and 2007.
You don't really get word processing advantages, office 07 just uses more ram and looks better.
The only advantage really is powerpoint you can have more effects on things like custom animation.
Office 2007 was unusable for me untill I got the classic menu for it. File, edit, view, and so on are not there. There is a new interface and I can't find anything using it. Here's a picture of the new layout: