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Open source versus Microsoft: The new rebellion begins
(www.theregister.com)
This is a most excellent place for technology news and articles.
There are standards and then there are "standards." ODF was designed to be usable and implementable from the spec. Meanwhile, OOXML is just a glorified XML serialization of Word's internal memory structures that Microsoft bribed ECMA to rubber-stamp.
Of course they are not equally good, no question about it. They are still both (technically) open standards and the main point is that they are both supported by both pieces of software, i.e. the practical difference between them is mainly in the UI, you don't need to get the other one just to read files created by one of them.