I'm surprised the Fluent (Ribbon-based) user experience wasn't added to Mac Office 2008. Also see this page for a WSJ review by Walt Mossberg (his summary: "Microsoft Office 2008 for the Mac is a solid program that I can recommend for anyone with a new Mac. It’s not revolutionary, but it does the job.").
Office for Mac includes Word, Excel for spreadsheets, PowerPoint for presentations, and Entourage for e-mail and time management. There's no Microsoft Access database app for the Mac, although Filemaker's upcoming release of Bento offers Mac users a new choice.
Unlike Microsoft Office 2007, the interface changes don't look radically foreign next to the 2004 edition. That's good news for anyone who doesn't want to relearn the locations of common functions. The 2007 applications for Windows arrange functions within tabs, while the 2008 Mac software largely clusters functions within the same drop-down menus including File, Edit, and View.