Google to Release Web-Based Spreadsheet - NYTimes

The New York Times is reporting that Google intends to release a test (beta I presume) version of web-based spreadsheet software that can read Excel and CSV document formats. While the article states that the new software will be able to recreate many of Excel's complex formula's, it will not be able to reproduce macros (somewhat obvious). It will, however, allow for online sharing and collaboration using GTalk it seems. The article also cites Eric Schmidt, Google's chief executive, as saying that Google intends to offer web-based word-processing in the (apparently near) future which will be based upon a program called Writely from a company Google purchased named Upstart. With Microsoft threatening Google in search (trying at least) and Google now entering the domain of Microsoft's Office, the looming battle gets more interesting all the time.