Is there a serious alternative to M$-Office for OS X?

One that will work with .doc/.xls files AND save them
so that to a PC user it looks as if they've only ever been
worked on by Word/Excel ?

I am the sole Mac user at work and want to remain that
way, but with M$ pulling support on Mac-IE, it wouldn't
surprise me if one day Office for the Mac disappears (no
need to get into that discussion).

Basically, I would like to look into learning an alternative
if there is a competent one.


Larry


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