Brian Jones has a post entitled Native PDF support in Office "12" where he writes
Today's another exciting day as we move closer to Beta 1. We are just wrapping up the MVP summit here in Redmond and we've finally announced another piece of functionality I've wanted to talk about for a long time now. This afternoon Steven Sinofsky announced to our MVPs that we will build in native support for the PDF format in Office "12". I constantly get asked by customers if we can build in this support for publishing documents as PDF files, and now I can thankfully say "yes!" It's something we've been hearing about for years, and earlier in this project we decided that while there were already existing third party tools for doing this, we should do the work to build the functionality natively into the product.
The PDF support will be built into Word, Excel, PowerPoint, Access, Publisher, OneNote, Visio, and InfoPath! I love how well this new functionality will work in combination with the new Open XML formats in Word, Excel, and PowerPoint. We've really heard the feedback that sharing documents across multiple platforms and long term archiving are really important. People now have a couple options here, with the existing support for HTML and RTF, and now the new support for Open XML formats and PDF!
This is a very welcome surprise. The Office team is one of the few groups on main campus who seem to consistently get it. Of course, the first thought that crossed my mind was the one asked in the second comment in response to Brian's post.