Most real projects requirements (excepting MIL-SPEC docs at one end of the spectrum, or "story cards" at the other, agile end of the spectrum) more often than not consist largely of:
- MS Word .doc files
- MS Excel spreadsheets
Q: Have you looked into Open Office?
PS:
As far as a tool for the entire scope of your project (including, but not limited to, "requirements") - have you considered Open Atrium?
http://www.idealware.org/blog/2009/0...en-atrium.html