Microsoft "Office Web" to Run on iPhone?!

Sure, Microsoft's online Live/Mesh/Azure strategy is just a tad less complicated than n-dimensional string theory, but it looks like when the next version of Office (14) ships with it's GoogleDocs/Zoho competing Office Web, it will include support for not only Mac OS X... but for the iPhone's MobileSafari browser as well!
According to Macworld, neither release date nor price point are known, but it should be a companion to Office 14 which is slated for 2009(-ish?)
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im not sure what this is or what it does, care to explain?
It's an online (ie, WebApp, or web based application) version of Microsoft Office, which would run in your web browser rather than your local computer.
Basically the same things as Google Docs, ZoHo, Adobe's flash word processor (whatever that's called!)
I love the iPhone picture on this article! Made my day.
would you then be able to EDIT documents from your iPhone, or simply view them (a la Google Docs)?
Love this - it seems everyone is writing apps for the iPhone.
Check out my take on iPhone apps at http://johnkendrickonline.com