Being 21 years in the production of Office suite, Microsoft certainly has a better benefit with handling documents of its own supported types in different software platforms. Microsoft Office is now hosted on Cloud and proves to be a great platform of collaborative business tool mainly for working with document resources. It still has some glitches and not a very strong interface on web browser framework but does its work pretty well and has support for many number of document types. You will get a real time joint collaboration with team members who can act as co-authors of a document at the same time, mostly like Google Docs (with Google Wave experience).
If you don't want to go through the hassle of starting a demo and just want a to see how a web browser can be used to create or edit Office documents with other users, you can ask for an account for my sharepoint server at http://pramit.sharepoint.com. Otherwise you can always start a trial usage of Office 365 at http://office365.microsoft.com/.
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