I have a new favorite feature in Office 2007. I often need to send documents to contacts, but I want to ensure there's no extra information tagging along for the ride (revision history, document properties, speaker notes in PowerPoint, etc.)
You used to have to resort to macros or manual removal, but in Office 2007, there's a built-in tool called the Office System Document Inspector that will cleanse Word, Excel and PowerPoint documents of comments, annotations, history, etc.
To launch the Inspector, click the "big office button" in Word, Excel, or PowerPoint, choose "Prepare", then Inspect Document:
The Document Inspector will then display, with options that vary based on the type of document you've opened. For example, in PowerPoint you'll see:
Choose which information you'd like to find and remove, then click Inspect. The Office Developer Center has more information on this tool.
Hope you find this useful!