SoftMaker Office 2008 is a small, but capable Office replacement, and is offered for free on the following page: http://www.loadandhelp.de/home-en.html
The package contains TextMaker (word processing), PlanMaker (spreadsheet), Presentations, and BasicMaker (macros for TextMaker and PlanMaker).
I've checked this user-submitted item and it is genuine. In fact downloading the file results in a small charitable donation at no cost to you; a nice gesture at this time of year.
This is an older version of the product, the current version is Softmaker Office 2010. This older version is documented as only for Win98/98SE/Me/2000/NT/XP but I have read web reports that it works on Vista. If this is true it may also work on Windows 7. (Addendum: A number of readers have since confirmed in the comments that it works with Vista, Windows 7 and 64 bit systems)
The download file size is a hefty 58.8MB though this could be considered small by the standards of MS Office and other office style suites such as Open Office.
To download the file you need to enter your name and email address. It's possible you may get promotional material sent to this address so be prudent about the account you use. However your serial number is also sent to this email address so you need use an account that you can access.
I installed the program on my standard Windows XP SP3 test machine. Avira, Prevx3, and Threatfire reported no threats and Comodo firewall reported no activities I regarded as suspicious. Based on this I'm prepared to say this program is 100% clean.
On installation the program places four icons in the system tray for the word processor, spreadsheet program, presentation program as well as a scripting program.
I only briefly tested the Word Processor and Spreadsheet program and they seemed to work very like their Office XP counterparts. They can read and write .doc files, .xls spreadsheets, Open Office.odt files and a limited number of other formats including RTF.
Overall this is a pretty decent freebie. No it's not got the extraordinary feature set of Office 2007 but it has just about everything normal users need. The only major component missing is a replacement for Outlook but there are plenty of other free alternatives you can use instead. See here: Best Free PIM Best Free Email Client
How does it compare to Open Office? Well Infoworld consider it to be better the Open Office V3.1. All I can say is it sure loads faster and that's a real plus.