Opening MS Publisher files: Probably will never be implemented - not even other products by MS can open them. So if you got plenty, you need to convert them to a more common format.
Regarding Booklets: Probably not what you have in mind (so just in case a search for booklet turns this question up), but LibreOffice has a booklet printing feature, i.e. one that arranges your pages so you can print two pages on each side of a sheet of paper, and then just stack the sheets and fold in the middle.
And I disagree with the proposal to use Draw to make DTP - at least when most of the contents is text and not graphics placed all over the place. In writer you can have linked frames that allow a very flexible positioning, but still keep the editing comfort. You can also work with different sections with different amount of columns and stuff like that. I agree with the recommendation of Scribus though, that indeed is closer to DTP.
EDIT: Implementing a Publisher import filter is an accepted Google Summer of Code task http://www.google-melange.com/gsoc/project/google/gsoc2012/uman/10001 - so there's a possibility that LibreOffice will be able to open publisher files in version 3.7.0 (scheduled for February next year)
See also → http://ask.libreoffice.org/en/question/11536/can-libre-office-36-open-a-microsoft-publisher/
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