When setting the following property:
You will lose your Office Web Apps callout:
Only to be replaced with this:
Being that just about every customer has added their own content types by now, and 3rd party tools add content types to document libraries, it makes the in-browser document creation feature of Office Web Apps a non-conversation piece. If you want to be able to create document in the browser, don't enable multiple content types on your document libraries!
CJG