One of the coolest features in Office that I think many people (well, at least me) overlook is the translation capability. You can type in a word and get a translation immediately in any language you select. I'm currently trying to teach myself Spanish and find this feature really useful.

http://frice.officeisp.net/Miscellaneous%20pictures/OfficeTranslationFeature.gif

In most Office 2007 applications, you can find the translation feature on the Research pane in the Proofing group on the Review tab. In Outlook, right-click anywhere in the message body of an e-mail, and then click Translate on the shortcut menu.