I've installed OO on a friend's new laptop the other day. He's not really into computers, and was just looking for a (legal) way to make docs and spreadsheets.
Anyway, when I mentioned that he didnt have to pay for Office but instead could have a free alternative, he instantly accepted it ;-)
OO is not bad. It's not bad at all. Although I've a few year to use Office, I'm guessing OO can replace Office for about 95% of it's functionality.
Have you installed the latest 2.0.x version? It seems pretty snappy and fast here.