[Video] Google Docs: New, Improved Formula!
As this video shows Google Docs has made some significant changes this week notably character-by-character changes as other collaborators make edits (very similar to Google Wave), the long overdue tab stops ruler, spreadsheet improvements to behave more like Excel and a simple graphics editor.
To try the new features go to http://docs.google.com/settings click the ‘Editing’ tab then set “New version of Google documents”.
via Official Google Docs Blog: A new Google Docs.