SoftMaker is a commercial entity located in Europe that strives for quickness and MS Office computability. The reviews of their new 2008 version make it sound very promising. They apparently have a great mobile version that can turn your Windows smart phone into a little desktop substitute. The price of $99 for an entire school is close enough to free.
Of course, there is Open Office/Star Office and a number of other alternatives that should be considered. While I like Open Office/Star Office, I know that some people believe it to be slow -- which was true in the past -- and others will not look at it because it based on an open source process. Personally, I don't find these to be problems, but I know that more than a few risk-adverse bosses would. At the very least, SoftMaker Office should be on your list of office suite alternatives.
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