I don't think he is correct -- or at least we don't know. I mean, textedit in OS X can view word docs, so it's pretty likely that functionality will be there. Apple's supposed to be working on a good spreadsheet app, and that will certainly open Excel docs, so it's possible that functionality will make it to the phone too. That might take a while though, who knows. Plus with a full browser, iPhone users can head over to Google Docs and Spreadsheets for that stuff, and soon that will have a Powerpoint replacement as well.