* snip *
I'd prefer to pay £89 for the physical boxed copy of Office 2010. I only buy Office once every eight years anyway, plus there is no assurance that Office 365 even gives you the newer versions of Office when they come out in the future (i.e. there might be an "upgrade fee").
Looking at the Microsoft Store, it says "Ongoing access to updates", which seems to suggest that you just keep getting the latest and greatest.
The pricing looks rather different when you compare current versions: the cheapest I can find on the MS Store is Office Home and Student 2013, which installs on just 1 PC, lacks quite a few features and goes for GBP 109.99. Hmm...