Office2 HD is an awesome iPad app. It does cost $7.99, but well worth the money. It is like buying Pages, Keynote, and Numbers, but you are getting Word, Powerpoint, and Excel, for one price. You can edit and save current documents, as well as create new documents from scratch. Documents can be saved locally on the iPad or saved to a server or cloud.
We have found the Webdav connection allows our teachers and students to create, edit, and save right to their server account. It is also extremely easy and convenient to disconnect from the server, so that others can use an iPad that is shared in a classroom. Office2 HD also connects to Dropbox, Google Drive, SkyDrive, as well as other cloud services. This app is very versatile.
I would recommend this app for you to try. With wifi access to files and the ability to create and edit documents and presentations, this is quite useful. It also allows you to save as .DOC, .DOCX, .PPT, .PPTX, .XLS, and .XLSX. I have found it to also open and view Pages, Keynote, and Numbers files, though you cannot edit. Give it a try.