I don't love Microsoft, but, when they have a winner, they have a winner. Their Office products are excellent overall (except PowerPoint - WWWWAAAAAYYYY to big for what it does...). It is the industry standard. And I love being able to save my documents on a far more secure personal hard drive than over the web, where any hacker who can force their way onto online servers can get your confidential information and that of thousands of others at a single time rather than hitting thousands of individual computers.
In addition, you obviously do not utilize Office that often, crom, because 2003 to 2007 was in no way "minor." Excel alone added much-needed formula creation (sumifs, countifs, etc.). The "ribbon" is ingenious. Not too happy about less macro support, but you can't have everything.
Lotus is a bit player, at best. OpenOffice poaches MS Office's extensions...if MS decided to sue Sun over the use of their extensions, everyone would be up in arms about "evil" Microsoft, even though Sun is using MS IP. Plus, it is inefficient at best, especially with spreadsheets. Google Docs is a rich text editor that hasn't even come close to maturation yet.
Office is TOTALLY worth $150 for the entry version, and, with larger companies, the Pro and Standard versions are worth every penny. God forbid a company attempts to recoup their research and development costs AND attempt to make a profit in a free-market environment, all while producing a product used by 80% of the population that utilizes such programs (450 million sales of Office vs. 15 million individual Google Docs users).