I hate this subscription (rental) based model they have now.
To be honest, the 365 subscription model is great for home users. You get the whole Professional suite for *five* PCs and a 20GB Skydrive account for only $99 a year, including support calls if you really need them. A single retail copy of Professional was $350-400 previously. There's absolutely no reason to hang on to old versions at home, there just isn't.
Where it really sucks is businesses. They know none of our software works with the latest version of Office, and it probably wont be officially supported for this version until the *next* version is out. But you only get the latest version, period, and they don't sell the old versions a la carte anymore. Your business still uses 2007 or 2010, and needs to? You're stuck buying enterprise licensing at a considerable markup even if you're only a small business, or you can hope to buy retail keys from third party resellers.
Hell, even Dell partners can't get new PCs with Office 2010 on them anymore unless its a seriously big account, and you have to fight with customer service to get the order placed.
If you're a business you should have an open license agreement which comes with downgrade rights. You only need 5 licenses of anything MS sells to start an open license agreement so there's really no excuse for a business in that respect.
Except those open license agreements are considerably more expensive than retail, OEM, and copies bundled with hardware purchases.
When you only *have* five employees, it does not make cost sense to be upsold to higher license agreements.
If you need the downgrade rights or other benefits of them, then yes they are worth it to you.
I wish thats how business works, but its notThere isn't unlimited money to just throw at IT expenses for the most technically sound solution especially in small business, which is precisely the scenario we're talking about where the push to 365 subscriptions and the sudden pulling of all availability of previous versions hurts the most. The enterprise environment can say "volume/open licensing is worth the added cost due to the benefits that save us money in other ways" much more easily than Jane's Flowers being told they need to spend a few thousand extra dollars on MS office licenses "just because." Jane's Flowers is not hiring another six people over the course of the next year, and they're better off spending that extra $100 on a marked up copy of Office 2010 for their one new hire as needed until their business apps become compatible with 2013.
The point is there is no "one size fits all" licensing solution for all shapes and sizes of business, and the subscription model for 365 as it stands now sucks for a *lot* of situations. Hell, if they added downgrade rights to 365 i'd be moving my users to it in a heartbeat, it would save us a crazy amount of money, but our software just *doesnt work* with 2013 yet, we need to be on 2007/2010.