We just don't know, especially with iWork.
Remember, it isn't that the iPhone/Touch OS can't do multitasking-it most certainly can and does with some Apple apps.
What iPhone OS doesn't allow yet is THIRD PARTY apps to enable multitasking. iWork is an Apple app, if they think it is important to have it multitask with other apps, they will allow it to multitask with other apps.
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