I agree that Apple has been stepping on Microsoft's toes with Keynote and Safari. However, I do not see any other option for them: Office X was released in December 2001, if I recall correctly. It containes a huge number of massive bugs that should have been fixed immediately. In fact, I consider Office X to be beta quality, even by Microsofts standards.

Microsoft has not addressed these known problems. Neither have they announced a new version (the usual Redmond way of dealing with bugs). In fact, there is speculation that Microsoft will axe Office for Mac OS entirely.

I do not think it would be smart for Apple to wait until Microsoft announces that Office is cancelled. This would massively hurt Macintosh sales. Instead, they are warning Microsoft: "Look, we can replace PowerPoint, we can do the same with Word or Excel." I'm waiting to see if Apple will actually follow through with those ...