I have just seen confirmation from Jeff Raikes that we have released Office 2007 to manufacturing. This is the biggest change we have made to office certainly since we went 32 bit, and in UI terms it's probably the biggest change since we bundled the apps and called them office back in 1993.
The internal rumour mill is saying Vista will release later this week, but would I post a rumour ? Only if I thought it was correct.
Loads of good information can be found here