Just because I couldn’t find this information when I was searching for it now: In Microsoft Office 2003, the keyboard shortcut to close (hide) the task pane is Ctrl+F1. (The task pane in Office 2003 is the panel on the right side of the window that is usually hidden, but opens to show certain information such as Help (upon a press of F1), “Getting Started”, the Office clipboard ring, and other items.)
This shortcut applies to Word 2003, Excel 2003, and PowerPoint 2003 (possibly among others).
In Microsoft Office 2007 this shortcut minimizes/maximizes the Ribbon Bar (you can achieve the same by right-clicking the Ribbon Bar and selecting "Minimize Ribbon Bar").
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