Every issue is moral with me -- I am the anti-Carrol ;-). But apart from that, Word and Excel are probably good at what they do (despite the Microsoft UI), but what I am not enamoured with ("of", if that suits you) are the sorts of activities they facilitate -- long documents with WYSIWYG formatting, spreadsheets with sums, averages and all that stuff. When I have to write up a formatted document, I use HTML+CSS, when I have to work with tables of numbers and generate charts I use Perl+GD (or other equivalent -- I really like this PHP/ SWF-Charts(*) thing that I have been using recently -- it hits performance limits for huge data sets, though). But even these situations are pretty rare.
--ravi
(*) http://www.maani.us/charts/index.php
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