Office 2016 on OS 10.11.6 - any known conflicts in 2017?
In my experience, Microsoft is investing substantial engineering, funding, resources, man and woman-power in to the Office 365 - Mac Office 2016 suite.

The updates are very rapid, easy access to pre-release and insider builds, well documented issues / workarounds.


https://blogs.technet.microsoft.com/office_for_mac_support_team_blog/
https://products.office.com/en-us/mac/latest-office-for-mac
https://products.office.com/en-US/mac/microsoft-office-for-mac


There's even a "back channel" admin and version tracking system that helps point power users to what changes when with respect to Office for Mac.

Are there known issues - absolutely. Even better, Microsoft documents them so people don't waste time troubleshooting things. Will one or more affect you? That's harder to tell, but we have thousands of daily users in our company using these apps heavily. The number of things we need to escalate to MS are few and far between and the time to fix things is superb. I personally prefer iWork suite, but Office and Microsoft have a huge lead from what I can see for most people's needs in the office space - Mac or iOS.