A big, unanswered question is price. Office has historically not been cheap, and with the increasing pressure from free and inexpensive alternatives, the issue has become a critical element for consumer and workplace buyers.

"The shoe waiting to drop is how much it's going to cost," Creese said. "It's the part everyone wants to know before making a decision to purchase it or not."

The new subscription-based model, in which customers pay a monthly or annual fee instead of one up-front payment, could cut both ways.

The option to pay a smaller amount every month or every year, along with the five-device license and the automatic upgrades, could entice some buyers who have been put off by the perpetual license price.

However, depending on the monthly or annual fee, it could be a disincentive as well, especially for buyers who find the subscription payments adding up over time, Creese said.