"Microsoft is rumored to be readying a beta 1 version of Office 12 for Windows Mobile. The product will reportedly consist of viewers for Word, Excel, and PowerPoint, along with limited editing capabilities for Word and Excel, plus "OneNote Mobile," a new mobile version of Microsoft's OneNote note-taking application. Office Mobile supports devices running Microsoft's Windows Mobile Smartphone and Pocket PC software platforms."
An area of Windows Mobile that I always felt was neglected is Office. It appears there has been some improvement in WM5 and now it looks like more is coming. I'm am intrigued that OneNote may also be included though It would be pretty limited on a Smartphone if it was even offered.