I will not get into surveying the complicated and often-heated comparisons made between ODF and OOXML other than to refer you to the following articles, which in turn provide more references:
http://en.wikipedia.org/wiki/Comparison_of_OpenDocument_and_Office_Open_XML_?formats
compares formats.
http://weblog.infoworld.com/realitycheck/archives/2007/05/odf_vs_openxml.html
gives a flavor of the conflation of political, economical, PR, and technical
issues.