My employer uses Exchange ActiveSync and will only wipe work-related information if the phone is stolen or if you are no longer employed there. Not sure why virtualizing a second instance of the OS would be more desirable to ActiveSync in most situations.
There are consequences for being an asshole. Card's opponents enjoy the same right to free speech that Card does and exercised those rights for calling for him to be pulled for the project. Ultimately, his publisher decided it didn't want to be associated with his asshole beliefs. Nothing controversial about that.
Microsoft would make a mistake by not providing some sort of native client for popular platforms. Accessing Office through a browser is fine for some but it requires a constant internet connection and can be less responsive than native code. If Microsoft forces iPad (and other tablet users) to use Office 365, they will be making a big usability sacrifice on behalf users that don't need or want it. Better to canibalize your own sales than to leave yourself exposed to competitors (ala iPod v. iPhone.)
What kind of content creation is not supported? There are text editors, word processors, video editors, sound editors and many other content creation apps available. The iPad may not be as efficient as bigger devices but it's certainly functional and often more convenient.