Yes, Microsoft is launching not one, not two and not even three versions of their famous Office Suite. They will be launching a total of six versions: Starter, Home and Student, Home and Business, Standard, Professional, and Professional Plus.
According to a report by Neowin , the launch for the latest Office suite is scheduled for June of next year. This new version include support ribbons for all products, as well as a new version of Office for Mac.
Applications included in the Office 2010 include a bevy of software including Word, Powerpoint, Excel, Access, Outlook, Publisher, Communicator, Access, InfoPath Designer, InfoPath Filler, OneNote and SharePoint workspace.
The free version of Office will include Word and Excel has limited functionality and will have ads displayed to support the cost. The Profesional Plus version is available in public beta as of the moment and requires a license key from Microsoft,
Those who have a TechNet or MSDN subscription will be getting the full version of Office 2010 ahead of the rumored June launch date.
Source: http://www.neowin.net/news/main/09/11/30/office-2010-schedule-for-june-release