As a home user of Office on Mac (and therefore didn't bother with these things), I have to ask: What has been fixed, and what hasn't?
I'm using it, it's ahead of the non-Beta Office that Office 365 currently ships for Windows.
My mac users are freaking out because we just switched from gApps to Exchange (I know, don't even) and Outlook 2011 is a joke compared to what my windows peeps are getting. (not to mention the fact that I have to create a second set of instructions just for them)
I don't know: Why not switch from Google Apps to Exchange?
Compared against Windows' current version of Office, it is a refinement. Compared against Office 2011 for Mac, it is a massive upgrade, like day and night.