Google’s release today of a free Web-available spreadsheet, complete with collaboration, shows that when it comes to innovation, it seems to be all about Google these days, and not about Microsoft. It’s taking MIcrosoft at least five years to get Vista out the door, while Google churns out innovative app after innovative app in what seems to be real-time.

This reminds me of the days when Microsoft was the upstart, and old, ailing, stodgy IBM couldn’t seem to get out of the way of its own feet. There was a time, after all, when IBM and Microsoft were competitors, each vying to have the dominant operating system.

Microsoft was smaller, nimbler, smarter and hungrier. It won.

These days, Google appears to be nimbler and smarter. Microsoft won’t go away, just like IBM didn’t. But innovation and growth seem to be on Google’s side.

A free spreadsheet that allows for collaboration, and probably soon a free word processor, certainly beat having to pay $350 and more for a massive Office suite, most of whose features most people don’t use.

Unless Microsoft changes, and fast, I think its glory days are over.