All in all an extraordinarily disappointing keynote.
No small notebook (a gaping hole left by the departure of the 12").
No mention of Leopard
No new Leopard UI -- essentially no response to Vista
No long-needed updates to servers or standalones
No updates to iLife
What did we get? Expensive vaporware that will cost $700, partly folded into a required contract. Not available for another six months at the earliest. Oh, and iTV, already announced earlier. That was it.