Sun has announced a beta plugin to convert between Word 2003 .doc files and the OpenDocument .odt files.
I downloaded the plugin and gave it a try. A report format that I used to use at work was particularly troublesome for the OpenOffice.org (OOo) converter. When I used OpenOffice to convert, figures were aligned slightly differently, tables were larger than original. and page breaks were much different than in the source document. Fairly easy to fix, but a pain to do for several documents. The plugin, however, got everything but the formatting and/or placement of three graphics on the cover sheet. This is pretty easy to fix, much easier than the OOo converter.
All in all, for me this is a beta that is in good shape.