According to a post on Mac Mojo, the Mac BU's blog, Microsoft is committed to getting out a free file format converter so that Mac users can open Office 2007 Open XML formatted files with Office 2004 (Laurie posted about the problem earlier today). This converter is expected to be released late March/early April and will be free.
The next version of Office for the Mac will support the Open XML Format as its native format, and that is expected to ship 6 to 8 months from now.
Until then you can either use a hack, or ask your Windows using friends to save the documents they want to share with you as the older Word/Excel/PowerPoint 97-2003 Document (.doc, .xls, .ppt).
Microsoft says file converter for Office 2007 in the works
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