I just thought I'd highlight for those that are not aware, there are at least 2 ways you can get heavily discounted MS Office 2007.
The first is called ItsNotCheating, and for eligible tertiary students and employees you are able to purchase one licence of MS Office Ultimate 2007 for $75.
Refer to http://www.itsnotcheating.com.au for details.
Another way to purchase a cheap MS Office 2007 licence is through the Home Use program, eligible for employees of a company that has a volume licencing agreement with Microsoft. If eligible, you are entitled to purchase a single licence of MS Office 2007 Enterprise Edition for $28 online, or $42 by post.
Refer to https://hup.microsoft.com for details.
With the impending official release of Windows 7 on October 22nd, there may be some student deals in Australias as there have been in other countries but Microsoft haven't formally released any details yet.
In case you're wondering, no I don't work for Microsoft (thank God!).
Cheers ...