While traditional versions will be included for installation on PCs and laptops, the Office suite will also be available as internet applications and on mobile phones, and maybe on the iPhone.

Another concern for Microsoft has been to make its APIs friendlier to developers.  It says it has made considerable advances towards making its Office APIs standards compliant and more accessible.

Office 14's online face will be powered in part by Silverlight, Microsoft's rich Web application plug-in. A Silverlight browser plug-in will come with the new version of Office and there is also a Silverlight-free online version of the Office Suite, for users who choose not to install Silverlight.
 

Microsoft's free cloud computing OS, Windows Azure will also be powering much of Office 14's power tools, such as Exchange Online and SharePoint Online.  Azure already powers parts of Exchange Online, such as the identity services.  The changes to Office will help many services be done purely from the cloud, saving machines from local work or storage.

And finally here is some screenshoots of the Office 14 Online

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