Hyperion Quake 2 will work on MorphOS. WipeOut 2097 will. Heretic II and Shogo will. Payback won't (it bangs the hardware). Playing 3D games using 3D hardware assumes you have a card with working MOS 3D drivers, currently only Voodoo 3 and 5 cards have them, Radeon cards will follow in the future.
MOS has been promised Papyrus Office as an office suite, it exists but nobody knows how far it is from release.