Depends if it's gonna be collaborative documents that get shared across multiple people doing tracked changes etc - in that case you're pretty much stuck with Word because nothing is really properly compatible with word. Plenty of things say they are, but that's a lie, the formatting will end up a mess (even more than it normally does with word).

If it's just your own documents, my hands-down favourite word processor is LyX, which is essentially a semi-WYSIWYG frontend for Latex. Keeps formatting really nice and ordered, very little of the latex mucking around and getting in the way of your writing. Nice version control. Really good for structured technical documents, and puts out very nice PDFs. The main problem is that it's not terribly compatible with other formats.