Well, after tossing around an outright purchase ($79) for OneNote, and or using 365. I decided to give 365 a shot. I downloaded it, and it installed right next to my already installed Office '07 Pro. and I can use either. I am using all of 365 now except Outlook, and I will get to that later.
After a short learning curve, (about 2 pots of coffee) I now can use OneNote, and Excel with the same ease as I have used Excel in the past.
OneNote, is a whole different story, as there is so much that nifty little program can do. It (OneNote) seems a little clunky to me, and I do get an error message on occasion after I have played an attached video file... I've posted that on the Forum. The only other thing that I have come across is that when I open a file from the SkyDrive desktop app, it will open that file in 365, and not Office '07. < That's it?
IMHO the combination of Office 365, SkyDrive, and Windows Phone is totally @#$%@#$% < insert own swear word here, AWESOME.
Oh and the syncing of the three, is almost twice as fast as before!.... < ok that could be my imagination.....