|1) Excel is good - unless you rely on it too much for accuracy, or you write apps in it. |
2) Word is not so good, and has got people so used to its way of doing things that it holds back innovation (a less geeky version of Lyx would make people very productive).
3) Powerpoint is a productivity killer - but then so would any similar app be, so its not MS's fault.
4) Outlook has a hard to learn UI, but people are used to it. Looking at Outlook again after several years, I found it very confusing.