Conclusion: A subscription to Microsoft Office 365 Home Premium lets you install a full copy of Office 2013 on up to five devices and also lets any Windows 7 or 8 machine temporarily download Word, Excel, or the other Office apps for use on other machines.
Pros: Designed from the ground up for cloud-based storage and collaboration. Clear, up-to-date interface. Subtle improvements throughout. Unmatched power for editing, viewing, sharing. Single license allows use on five machines, including Macs (which get Office 2011 for the Mac).