Microsft announced office live workspace, something less functional than what google has but more user friendly interface.
In this "cloud" you can work with your documents on the fly (internet) without the need to save them locally on your pc.
For more information, please see http://workspace.officelive.com/
What you can do with it?
- Create document, save it, edit it, add comment, see the version history, etc
- Create to do list
- Create workspaces for hom, work, etc
- Adding events, removing, updating
- Adding contact list
- You can share your documents or to do list with whoever you want