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It's a stripped down interface, but is it everything that 95% of users need to create a presentation? And in the cloud besides for easy remote presentation, sharing, interaction, etc? It will probably do the trick if you can forgo Smart Art and fancy transitions (although the update now allows transitions by bullet item).
What are your users producing? Prose, text, and notes, or highly-formatted documents?
Google Spreadsheets is increasingly rich in its features set:??*Forms improvements?*Solver improvements?*Improved image integration?*Linear equation modeling tools?*Sheet-level permissions?*Mobile editing