updated 01:34 pm EDT, Thu March 27, 2014
Carries over editing, ribbon interface, other features
(Updated with app download links, dropping of subscription requirement for Office Mobile for iPhone)) Microsoft is today officially releasing Office for iPad, a long-rumored port of its Windows and Mac work suite. The trio of apps let people do full editing of Word, Excel, and PowerPoint documents, while preserving the same formatting seen on the desktop. Each app uses a custom touch-tailored interface, for instance offering a special numerical/symbolic keyboard for Excel. The apps do however make use of the same "ribbon" interface scheme.
The apps save files to OneDrive by default, and can be viewed and worked on from any other version of Office. Along those lines Microsoft has also implemented collaboration features, allowing multiple people to work on the same document simultaneously, with views of change notes and who's currently active.
Microsoft is using a "freemium" model for pricing. Basic functions will be free, but full functionality (including editing) will require an Office 365 subscription. The Office apps will reach the App Store at about 11AM Pacific time, or 2PM Eastern.
Update: The iPad versions of Word, Excel, and PowerPoint are now available. Less noticed by also of significance, as it launched Office for iPad, Microsoft dropped the previous Office 365 subscription requirement for its previous Office viewer app, Office Mobile. The older and iPhone-only app can only open and display Microsoft Office documents, but has dropped its subscription requirement in light of the new release.