It is excellentthat OASIS has approved OpenDocument as a standard. Hopefully it will also become an ISO standard. However, neither of these mean that it is necessarily the right approach for you. A single schema, no matter how well-designed, will not work for everyone. James Governor is quoted in the release: “One key to success will be the royalty free status of the spec; there are no financial penalties associated with developing to it.” Very true, but Microsoft’s schema is also royalty and cost free, and I believe they have committed (contractually even I think…?) e.g., to the EU, to keep it that way. See more on this here and here.