MIcrosoft released an official press statement in regards to the newest form of Office for Mac along with juicy details on pricing and anticipated release.  Office for Mac 2011 is expected to be released at the end of this October and will be available in Academic, Home and Student, and Home and Business editions.   Also for anyone buying Office for Mac 2008 after August 1st, will be eligible for a free upgrade to 2011.  The pricing details are as follows:

Microsoft Office for Mac Home and Student 2011 includes Word for Mac, PowerPoint for Mac, Excel for Mac and Messenger for Mac, and it will retail starting at $119 (U.S. estimated retail price [ERP]).
It will be available in two editions — a single install for $119 (U.S. ERP) and a Family Pack for $149 (U.S. ERP) with three installs for families with more than one Mac in their household. The Home and Student edition provides the core productivity applications that Mac users want and need.
Microsoft Office for Mac Home and Business 2011 includes Word for Mac, PowerPoint for Mac, Excel for Mac, Outlook for Mac and Messenger for Mac, and it will retail starting at $199 (U.S. ERP).
It also will be available in two editions — a single install for $199 (U.S. ERP) and a Multi-Pack for $279 (U.S. ERP) with two installs for a user with two machines. If Home and Student customers determine that they need the additional functionality of a desktop e-mail client, they can easily step up to Office for Mac Home and Business 2011using online upgrade functionality.
Microsoft Office for Mac Academic 2011 includes Word for Mac, PowerPoint for Mac, Excel for Mac, Outlook for Mac and Messenger for Mac, and it will retail at authorized academic stores and Microsoft, http://www.officeformac.com, for $99 (U.S. ERP).
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