UPDATE: Check out a hands on video at Gizmodo.
Big news coming in from Redmond today, with Microsoft announcing its Office Mobile for iOS (or just the iPhone). This is after years of rumors and conspiracy theories on how Microsoft did not want to bring its biggest cash cow to the iOS. A couple of points to note though are that this is only for iPhone (for now?) and Office 365 subscription is required to take advantage of this app.
Now Apple, its your time to payback the favor?