Is Open Office still the best on Linux?

Hi;

I'm using Ubuntu 10.04.

Lately, I've need to use my computer a lot more and I've been
disappointed with the loading speed of GNOME applications. Even non-
GNOME applications load more slowly in GNOME.
For instance, if I type in a command to launch an application form a
terminal it comes up fast, but if I get it through the GUI menu it
comes up slightly slower and if I bring it up with a keyboard shortcut
it is slower yet. The help menus are the worst.

I'm contemplating switching to Xubuntu.

I do need to exchange office documents with people on Windows boxes.

Last I checked Open Office was the last word in Microsoft document
format compatibility.

Does anyone know if abiword and gnumeric equal OO in Microsoft
document compatibility?

Thanks in advance

Steve
.