Office 2007 Service pack 3 is now available from Microsoft Update or you can download it from The 2007 Microsoft Office Suite Service Pack 3 (SP3).
Microsoft Update will begin pushing it out and automatically installing it in January 2012.
We're seeing a few issues reported by users that installed SP3 although it hasn't been determined if the problem is SP3 or something else. It's nothing major so far, possibly because Office 2007 users aren't in a rush to install it. I expect to see more problems crop up over the next few weeks and after Microsoft Update automatically installs it.
Calendar Printing Assistant SP3
Also available is Calendar Printing Assistant SP3. Download it from Microsoft Update or Description of Calendar Printing Assistant for Office Outlook 2007 SP3