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I have been a beta tester for Office '12' for sometime now.

Something that I noticed when I was working on it yesterday is that it seems to be able to create smaller files. All the Office '12' products now have a new format (Excel's is now called xlsx). I was working on a file and when I saved it in xlsx I found it was 12KB in size. Then I resaved to xls so that I can share it with others who are on Office 2003 and found the file size was 19KB now. It is quite common to see that file sizes increase with new versions due to newer features being added, but it was suprising to find it shrinking.

I have not spent too much time actually verifying all options etc, but just an observation...