Significant Updates to Google Docs Presentations

With New Google Docs Presentations, Why Use PowerPoint?:

Google Docs takes another bite out of expensive Microsoft Office software today with a complete do-over of Presentations. Google Docs slideshows can now be edited live and simultaneously with a team. It enables viewing of revision history, so any team member can go back and see changes made by others. The update also features live chat alongside the editing tools.

In addition to the collaboration features, Docs has added new transitions, animations and themes, with which PowerPoint users have been fluffing up their posts for years

(Via www.readwriteweb.com)