In the list setting you should be able to add additional document  templates. By
default the one that the list was created with shows up.

You can only add one document  template per content type. So to add additional
templates requires additional content types.

The problem is that when I try to use other Content Types, Document is the
only type that shows. There is no type for Excel or PowerPoint. They are
only available from the drop  down when you create a library.

Go to advanced settings in the document  library and turn on "Allow
management of content types". When you return to the library you will see a
section where you can add additional content types.

What you see when you create a library is a list of Document templates, not
content types. Document libraries are created by default to use the
document content type, but you can swap out which document template is
associated with the default content type at that time. If you go to
advanced settings you can change the default template for a specific library
at any time. But you can only have one document template unless you add
additional content types. Then you can have one per content type.

The contents of the New Drop down relate to the document  Template file
loaded into the default content type. You can add different templates by
adding different content types. So to have one of each do the following:



1. Create a new content type that inherits from the document content
type for each entry you want on the New menu.

2. Add one blank (or suitably configured) template of that document
type (word, excel, Powerpoint, etc) to each content type.

3. Add all the content types to the document library where you want
the multiple entries to appear on the new menu.

4. Complete #3 for each document library that you want to configure
this way.