Since your requirements are for ‘basic’ excel/spreadsheet type functions you should be able to accomplish this by inserting a link to a Google Document and having your spreadsheet/word document hosted by Google for you and your team. I use this all the time and it works great!

Would that work for you?

Thanks Dave, but it is not exactly what I had in mind.
Storage isn’t a problem for me but rather for everyone with access to project blog to see information directly.
The same difference when you use “formatted note” vs. Google doc or uploaded txt file.

You can EMBED a google doc in a record or blog.  We use this function for collaborating on marketing reports for our clients.  Since we have several people who field responses and follow up for each account, this is a big help in keeping our client reports up to date.

@ Vedran, I just saw this old post. This might help you out, in case you hadn’t seen it.

http://norada.com/forums/viewthread/369/

Thanks Dave,
that is exactly the functionality I had in mind.
Even though it is a little bit more complicated to implement.