Wired has now done a great review of the app: Buzzword: Web-Based Office Docs Never Looked So Good.
"...the web apps status quo is set to change with the arrival of Buzzword, an office-caliber document editor with a visually rich user interface. Buzzword beats current Ajax-based offerings like Google Docs and Zoho Writer in both usability and aesthetic impact. And in a few months, when a desktop version is released, Buzzword will pose a serious challenge to Microsoft Word, the current king of document editing on the desktop.I like that it's built in Flash. I like that Virtual Ubiquity is a Massachusetts company. I like that it's a purty application....
The application has what you'd expect from a word processor -- copy and paste, find and replace, text formatting -- plus a few more features that have traditionally only been associated with desktop apps. It has intelligent margin, table and image formatting options as well as a sophisticated lists manager. Documents can be shared among users, and your classmates or co-workers can leave comments, which show up as little yellow pop-up notes in the right-hand margin."
It's still in invitation-only beta. I'm on the press page, so I think I should get at invite, don't you?
Public beta will start in the fall. For free. Will the free part stay free?