"Good, but could be better"4.0 starson by Unhappy Larry
Pros: Easy to use. Very low cost.
Cons: Not 100% Office compatible.
Summary: Apple iWork 06 is a decent enough suite and I enjoyed using it for the trial period. It opens and writes Offices files well enough and certainly the price is VERY appealing. If I had a Mac I would seriously consider not getting Microsoft Office and would either get iWork 06 or use OpenOffice instead.
HOWEVER, iWork 07 is on the horizon and it is going to include a spreadsheet, database and it could well indeed close the gap on Microsoft. So if was looking at iWork 06... I'd suggest doing what I've done. Play around with the trial and then wait for the new version in early 07 sometime.