iLife
When I upgrade to OS X Mountain Lion, will my iWork (V9.0.3) and Office: Mac (2011) be compatible? Or, would I (1) need to purchase new software, (2) be able to upgrade to work with OS X ML?
iMac, Mac OS X (10.7.5)
Both of them are supported by Mountain Lion, so you will keep them after upgrading. Check that all your applications are compatible > http://www.roaringapps.com Make a backup of your data before upgrading