It is adequate. If I had to pay the full price for Office I probably wouldn't get it, but through BizSpark I was able to get it for free and OO just can't compete. Additonally, MS offers healthy discounts for home versions, students and so on, most of the time you don't have to pay the full price.

My parents use OO though.

I agree, I only switch to excel from time to time to use its add-ons. I think there are better and easier to use presentation software for the non-power users online.