Office Live Workspace

Microsoft via came out with Office Live Workspace where we can upload our Word, Excel, Powerpoint docs.  Superb!  Collaboration within the Microsoft environment!  Great! Someone who can beat Google Docs or Zoho -- one better since the formatting will be "perfect" regardless of who edits it.  What is "perfect"?  It's the spaces in between paragraphs and the margins -- they're different in Word and in Google Docs.

I got a problem with Office Live Workspace.  If say, a friend sends you a Word doc to share/collaborate, you got to use IE7 (ick!) to be able to click Edit (I think through an ActiveX control or something), then your computer opens Microsoft Word with the file in question.  Uhh, Google Docs can do real-time editing while we are in middle of a chat and every change is logged as if you're in a Wiki.

Your thoughts?