Many of you are aware that the Office Web Components were not created for MOSS, in part because of the emphasis to sell Performance Point, much to the dismay of many that don't want to spend the money for that package.
However, as it turns out there is a work around which will give you this functionality back - while Microsoft does not support this, these components are included in Project Server 2007 and work fine under the framework.
Installation is quick and easy - to download the installation package, go to http://www.sterling-consulting.com/Downloads/owc11installfor2007.zip
Have fun!
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