Recently I was asked to develop a geoprocessing script that creates a MS Word Doc. Here were some links that helped me out:
http://www.blog.pythonlibrary.org/2010/07/16/python-and-microsoft-office-using-pywin32/
http://libjoe.blogspot.com/2009/07/embedding-images-in-word-pythoncvb.html
http://win32com.goermezer.de/content/category/7/86/192/
http://code.activestate.com/recipes/279003/
http://www.daniweb.com/forums/thread129924.html
This is for excel:
http://www.python-excel.org/
Enjoy Everyone!