If anyone is interested, there are several sites that have posted a growing list of software that is either incompatible with the new processor, or requires Rosetta2. It appears that MSFT Office might be on the list of software requiring Rosetta.
Worth pointing out that some reviewers have found software using Rosetta 2 is running almost/as fast as it natively runs on Intel devices due to efficiency of M1/Rosetta 2, so if software runs under Rosetta 2, little justification in holding out for the native version. That will just be a bonus when it arrives.
If time isn’t of essence in replacing hardware there might be validity in waiting for rumoured new form factor Air/Pro and equally rumoured M2 late in 2021.