Probably, I usually use it just as a quick an easy way to save something without having to worry about attachments or flash drives. Then I'll copy and paste into Word on my computer to finalize the formatting. Are you looking to use Google Docs exclusively instead of buying a processor?
I am using DOCS for a research paper that i will be a co-author on target grazing. The main author has the account and invite us onto it. So, anytime we want to add something, we can log onto his account and add it. Right now we are working on the out line. I added three topics and a fourth may be needed to look into for any data that has been produce.
Over all, i like the Google DOCS, it is really neat.