I broke down and got Daedalus Touch. I has far fewer style controls than I thought (like almost none), but other features are intriguing. I think I'll find some uses for it. One supper cool feature is how they deal with the lack of cursor keys. Tapping on the margins moves the cursor on character for one finger, and a whole word for two finger taps. Tap and hold is just like holding the cursor key down.
Anyway, my main point is that it is not a replacement for Pages or another Office app, not even a supper light version. It' just another basic text editor, but with an imaginative and intuitive interface; plus some very nice sync and export modes.