"But the public won't see any Leopard bits until October." well.. thats not completely true. leopard bits will be on torrent within a few days!
It seems that often when Steve presents a keynote speech the stock price falls just around the end of the speech. The market is looking for a really whiz bang new product - flying cars, phasers, replicators - and when they just get new software they dump the stock.
There was a lot not discussed today. We didn't see anything related to the iLife or iWork applications. Quite a lot has not been revealed.
Lots more to come. Looks good. Solid. Comments are beginning to appear on sites from developers who received copies and they sound more positive than those on the outside looking in.
It's WW DEVELOPERS Conference guys. The flying cars come a little later.....
Thanks for the comments guys. Neil, If you have pointers to the comments on developer sites, I'd love to see them, since I haven't seen the Leopard bits myself (we're an Apple Developer, but not one that has access to the pre-release).
As implied by my posting, I still believe most of the cool features are largely in developers' hands, not in the public's. And I give Jobs credit for focusing on the topic of the conference -- he didn't talk about iWork, he didn't talk about iLife, and he didn't talk much about iPhone except as it related to developers. Sometimes success is measured by staying on topic. 
Just so you guys know, I predict we'll see a special event in September and one in October. If everything had been announced today, it would have been a pretty weak fall lineup. Apple makes more than 1/3 of its revenue and profit in calendar Q4/fiscal Q1. You don't have to be Steve Jobs to know you should save your best news for that period.
Carl
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