Microsoft went live with their Office 365 solution a couple days ago. Yes, its only in beta. Yes, it only has email, Sharepoint and IM. Yes, it’s 3+ years after Google Docs started eating away at their market share in this space.
But it IS something and it DOES come before Google stole enough of their market share to matter too much (at least in the big enterprises, where the real money is). That’s in contrast to Zune which was 3 years too late and Windows Phone which was 10 years too late.
If I was a Microsoft stock holder (which I’m not), I would be encouraged by this show of life. It probably buys Office another 10 years as the dominant workplace productivity tool.