It seems that Open Office has a built in export filter to export documents to LaTeX source, inluding the equations (not as elegant LaTeX as one would write oneself, but close enough to leave only minor edits needed). What it does with figures I have not yet worked out.
OpenOffice 3.0 is now available, the biggest change seems to be support for MS Office 2007 files.
Thought it would be some handy information, although apparently nothing else seems to have changed much.
Download at: OpenOffice.org Download ;)