We already have web-based word processors from Zoho, Google and others. One new entry in the race to replace Microsoft Word is discussed in a blog post at Wired.
Buzzword was built using Flex, a technology that is an offshoot of Flash, and is generating interest because of it's advanced, clean interface. It was created by a small start-up company and is in an "invite only" Beta right now, with an open Beta scheduled for the Fall.
blog post at Wired.com
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