Just as we thought, iWork 2010 was announced today, and it's taking full advantage of the new iPad's capabilities, namely multitouch. It's the most exciting thing to happen to spreadsheets in decades.
The big update here is to Keynote, iWork's PowerPoint equivalent: Multitouch is actually a pretty great way to create and view slides. In iWork 2010's Keynote, you can drag, resize and move elements around on a slide, including photos and text, which is a natural way to do things. Animations and transitions are added from a list of pre-generated ones.
Next up is Pages, iWork's word processor. Without a hardware keyboard, word processing seems tricky, but there are definitely elements that can be improved with multitouch: Scroll through text, select text via touch, navigate through different pages, that kind of thing.
Now, Numbers, which (let's be honest here) is the party-starter of the group: Spreadsheets. The screen seems like a hindrance here, but having a constantly adapting calculator is kind of a cool idea. We'll see how usable it actually is, but it definitely addresses some of the square-pegged "it's not businessy enough!" iPhone haters. Also, it is about as pretty as a spreadsheets app could be.
And now we've officially got the prices and compatibility list. They're $10 each ($30 in total, in case you flunked second grade maths), are compatible with the upcoming Mac versions as well as projectors (nice!) and will be available at the app store.