Microsoft just release Equipt, the Microsoft software as service. It includes Microsoft Office 2007 Home and Students (Word, Excel, PowerPoint and OneNote), Windows Live OneCare and the free windows live suite (Messenger, Photo, Writer, Mail, etc.). The subscription cost 69$ per year, only 20$ more than Windows Live OneCare. Always they’re updated. When the subscription is finished, the software continue installed, OneCare run but not update, Office let read documents and the Windows Live apps run because they’re free.
I think that it’s focused to home users that isn’t using Microsoft Office genuine licenses.
Microsoft Equipt: http://home.microsoftequipt.com/site/html/default.aspx