Picking up on online clues, some bloggers are speculating that one of Google's next products will be an online presentation software codenamed Google Presently. Like Writely (the startup Google bought which became part of Google Docs and Spreadsheets), Presently is expected to be a webtop application you can access from your browser. It would round out Google's other Webtop offerings to directly compete with Microsoft's Office (the desktop suite of applications which includes Word, Excel, and PowerPoint).
Google Office will never be a responsive or fully-featured as Microsoft Office. But that is besides the point. Most people don't use half the features in Office anyway. The ability to access your documents from anywhere and share them more easily with other people is what will draw people to these webtop apps. For instance, I hardly ever use Excel, but just today I was using Google Spreadsheets to create an invite list for an upcoming B2.0 event that other colleagues will need to see and add to themselves. That single feature—the ability for everyone to literally work off the same page—more than makes up for its sluggishness and lack of other features.
It's high time Microsoft answered back with a version of Office Live worthy of the name.