Microsoft Office for Mac 2011 ships this October, prices cut by nearly 50%
Office Home and Student Editions will be $119 for a single license now, down from $149. As for the Business Edition, which costs $399 now, it's being replaced by a Home and Office Edition, which runs $199 (or $279 for 2 licenses).
The Home and Student Edition of Office 2011, although it comes at a lower price, doesn't include one of the most-anticipated features of Office: the revamped version of Outlook that replaces cruddy old Entourage from Office 2008. Home and Student does come with Word, Excel, Powerpoint and Messenger, but to buy Outlook, you'll have to spring for the Home and Office Edition.