The slipstream process of Office 2007 is a simple two step process:
- Extract the SP1 file
- Copy the MSP files to your install share
Download Office 2007 SP1 here: http://www.microsoft.com/downloads/. Save the file on the root of your D:\ drive. Create a folder called D:\Office2007MSP\.
Extract the SP1 file with the following command:
D:\office2007sp1-kb936982-fullfile-en-us.exe /extract:D:\Office2007SP1MSP
Open the folder D:\OfficeSP1MSP
Copy all the *.msp files to the Updates folder on your install share.
If you run Setup.exe the setup wizard will install Office 2007 SP1.
Source: http://www.msfn.org/board/lofiversion/index.php/t109038.html
ICT-Freak.nl 
With the new Office (the 2007) design, look & feel, Microsoft have made a giant leap. True that it takes time to get use to the new ribbon and to get around quickly.. But once you are familiar with it, you rock!
We do a lot of researches on the web, and using Excel macros,
we have improved our research speed in 30%. That huge!!
Using OneNote have improved our research information control (nothing get lost now) and with the sharing files abilities, now everyone can contribute to the project.
So to summary it all, we are more then happy with the tools that comes in the Office 2007.
We looking forward to the new one… 😉
Amit