Office for Mac 2011 is slowly becoming available as of Today (11-1-10).
It's out on Technet and MSDN for download as of today, and the rest of the universe will be close behind.
One thing of note is that Oulook for Mac 2011 (included in it) allows you to connect to Exchange. Yes, Outlook is back for the Mac.
The one caveat people may want to pay attention to is that Outlook 2011 requires Exchange 2007 or Exchange 2010. So if you are still running Exchange 2003 (or earlier...) you'll need to plan for a forklift of your Exchange server to stop the screams from your Mac people.
You can read all about it here.