iWork '08 has a spreadsheet application, Numbers.
There are also major changes to Pages with the addition of toolbars & a page layout mode in addition to the word processing mode. There really isn't anything the page layout mode can do that the word processing mode can't. Think of the page layout mode like AppleWorks draw & word processing like AppleWorks word processing. However, you cannot open AppleWorks draw documents & you can't have objects cross a page boundary.
My personal expectation is that there will be a new version of iWork introduced at Macworld San Francisco in January, but that's only my guess.
