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This is very important -- maybe more important than the file compatibility issue.  Your mind and your fingers have been trained for years to navigate well-worn paths to cause things to happen that you need to happen, and many things are now different.
 
I also find that Office 2007 exposes many more options at once in the Ribbon, and that is not always to the benefit of productivity.
 
I guess it's possible that someone starting from scratch, having never used Microsoft Office at all, might reach a higher level of productivity faster with Office 2007 than with previous versions -- assuming you need on average to use advanced functions.
 
I'm willing to concede that that's possible; however, I don't personally believe it.
 
/rich

Be aware that the menu organization is *very* different.  It took our
groups (TAP and TGS) around 2 weeks before their productivity was back
to 95% of pre-upgrade levels (and the complaints stopped).