REPLY: How I learned to say, 'Hi, Google Docs; bye, MS Word' [ http://cnet.co/Ij0fyB via @CNET ]
When it comes to office technology, I wouldn't toss out MS Word or the other Microsoft applications. True, MS Word has over 1000+ features which the average user does not use. However, it's designed for the office specialist - the document producer. Google Docs are good but, it's not great. It lacks the formatting features that MS Office and Open Office have. Google Docs might be sufficient for cloud based companies that aren't heavily document driven. Yet, as for day to day documentation, plans, and processes, I recommend sticking to the Office applications. And as with anything, there are risks - when it comes to security and leveraging documents - I wouldn't risk it in the Google cloud.