Well, you could go for the free software such as StarOffice from Sun. Current version for OS/2 is v5.1 and there is an 5.2 version out for Windows and Linux. Next version of StarOffice would be the OpenSource project, but don't know current status of that.
There is a german office suit called Papyrus. I haven't try it out, but I'm told that it is very compact and super fast.
And then ofcourse the is Lotus Smartsuit from Lotus. Latest release, v1.6 (something) is really great. Lots of problem from the older versions has been fixed and it okey now.
Question You might ask Your self if you have the need to open Word documents or be able to save in word or excel. I don't know about Papyrus how well it actually open up MS Office documents. That could be solved by using StarOffice, but only problem as I see if that it tends to be a bit slow. If you want to have a more complete software package I would suggest Lotus Smartsuit if Your are running a firm or something. For private use, well yes the work can be done by StarOffice.
Url for download of Papyrus:
StarOffice can be found at Sun.com and Smartsuit at Lotus.com.