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No. Microsoft might allow the web-based applications to work (not Office 365 - but the Web versions available through SkyDrive on the PC) to allow users to view documents in SkyDrive but I don't see the Xbox One becoming a home computer.

I think what Microsoft wants the Xbox One to be is a hub in the wheel of Microsoft services with the cloud (SkyDrive, Xbox LIVE, Skype, Xbox Music) being the wheel on the other end of that axle. In other words, devices can communicate with the Xbox One and take advantage of it (Smartglass, Wi-Fi Direct), but likewise they are also a spoke on the cloud too.