Yes, you will be able to edit Word and Excel documents directly from your Blackberry, Powerpoint is view only. There's an app that comes installed called DataViz Documents 2 Go. The free version that comes with the phone allows you to edit the documents, only the paid version will allow you to create new documents directly from the device.
Thanks, I ordered the storm. It was a better value for me ( world wide card installed and 8 gig card comes with it for one thing) and I am used to a touch screen because I have a dare now. The storm does come with an app to create and edit Microsoft stuff.