According to PC World magazine it is. When you think about it, it isn't that surprising is it? Toolbars and menus are so old and completely can't handle the hundreds of features that Office has.

Innovation? Microsoft? Yes, we were surprised, too, but the Redmond giant's latest upgrade of the world's most popular productivity suite introduces several new features that revolutionize how people work with documents. The most striking change is a "ribbon" at the top of the interface that replaces the traditional cascading menus and taskbars, and can expose functions you never knew were there. Through the suite's handy new Live Preview feature, you can see how formatting changes, for example, will affect your document prior to your making them. You get greater XML-format support, too.

Microsoft Office Word 2007

I can actually find stuff I never knew existed before, and the geek in me likes the XML based file formats, not only are they smaller, they're easy to work with in other applications, you can open one up in a zip program, and browse through the XML in text editor.