Which is better iWork 08 or Microsoft office 2004 (Both for Mac)

I have a macbook pro, I have both iWork and Microsoft Office but in order to save space on my MBP I’m deleting files. So I wanted to know which program I should keep.

Keep in mind that I’m in highschool so i will need a prorgam that is good for making projects in a fast manner, I’m aware that iWork can convert to any extension but I need your opions and fast people!

And if you could and your in the same situation as me, explain which you like better and why. You know, all that jazz!