Maybe OpenOffice.org doesn't have all the features of MS Office, but I was pretty happy with Writer. I wrote my girlfriend's thesis in it and it looked very good. I admit that I had some issues with it, but they were caused by the fact that Fedora shipped a beta version; the older version worked fine.
At one workplace we were using Word (2003 IIRC) and I can say that when it comes to styles it sucks. It doesn't really support styles, or if it supports them they're too complicated to use. Nobody knew who to use them, so we did the formatting by hand.
Word has had full proper support for styles for a couple of decades - its implementation isn't very difficult to use, it's just that most users tend not to know about them because they haven't been taught as they aren't worthwhile unless you're writing a long document.
At one workplace we were using Word (2003 IIRC) and I can say that when it comes to styles it sucks. It doesn't really support styles, or if it supports them they're too complicated to use. Nobody knew who to use them, so we did the formatting by hand.