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Today, Microsoft announced support for more document format standards, including ODF, PDF, and XPS.
Doug Mahugh has a post that includes a screen clipping from Office 2007 SP2, showing the support for ODF, PDF, and XPS.
Gray Knowlton adds a lot of detail regarding Microsoft's future participation in the technical committees of standards bodies, including the OASIS ODF Technical Committee.
Jason Matusow gives some perspective on the significance of this from our customer's point of view.
From a personal point of view, I'm happy about the PDF and XPS format support. I often create these things and ship them from machine to machine for various purposes. I'm glad that it's going to be even easier in the future.