In the corporate "big-iron" world I believe you will see a lot more transparency. By that I mean that your main software will behave like it's local but in fact will be hosted on a central server. People won't even know that the program isn't local since it will save all user preferences on the server, allowing you to have roaming logins.
I think that the best approach would be to have a web-based service that allows you to experience rich content creation using open-standards and select closed-standards (like Word). It would allow you to dynamically change what you see on the page (if you don't use certain features they should automatically disappear from the page but be readily available for inclusion/exclusion in a preferences area or maybe a button with drop-down feature lists). Additionally, it would allow you to use a traditional word processor or calendar program on your computer and then transfer the info to the online software site (ie, there are a lot of tools that allow you to connect your calendar software to an online calendar and vis-verca). All of the "programs" should be together on one site, with one log-in, that allows you to have email, storage, calendar, word processing, spreadsheets, etc. They should be transferrable to handheld computers, smartphones, traditional computers, etc (ie, there should be adequate conduits linking the various devices so that it is seemless). There is nothing more annoying than updating my computer and not being able to update my Palm or my online calendar because they don't have conduits.
Well, just my two cents or so. Sorry if it was long winded.