In addition to word processing, spreadsheets, and presentations, ThinkFree Mobile offers a netbook-friendly document viewer, two-way synchronization with your desktop or laptop, and 2GB of cloud storage. See it in action in this video:
Interestingly, ThinkFree Mobile Netbook Edition is available for Windows, Linux, and Mac systems -- even though there is no Mac netbook we're aware of. (Think ThinkFree knows something we don't?)
The 7-day trial is available for download now, after which you can buy the suite for an introductory price of $24.95 (enter coupon code THINKFREE at checkout). When the promotion is over (not sure of the date), ThinkFree will run you $39.95.
That's not a bad deal, but I think the suite looks mighty tempting at the promo price. I'm loving the sync features and 2GB of online storage. And given that open-source/freeware suites like OpenOffice and Lotus Symphony have fairly steep system requirements, it might be worth a few bucks to get apps that are optimized for your horsepower-challenged netbook.