Most of the attention will go on the small things, such as the sweeping up of developer goodies into iOS/Lion. Hello Reader, iCloud, bye bye ghetto destinations such as Instapaper, Dropbox. Listening to Steve, I didn't immediately get the anti-Android nature of the new stuff, but it became obvious when I thought about it, teaming up with Twitter to fight Google. Interestingly, not a mention of Facebook after the Ping disaster... However, before anyone gets too excited, it's far from clear at present how much of any of this applies outside the USA.
But none of that is important. What is important is iCloud, Apple's implementation of a cloud-enabled OS (with clever freemium pricing). It's like Android/Chrome that "just works". Except that it's not a cloudOS or a webOS, it's very firmly cloud data - desktop apps with data synced via the cloud. In practical terms with the connectivity problems I get when I go anywhere, I'll settle for that over a full webOS. And the reason iCloud is important is because it ushers us toward the emerging quantum computing era, where data will stop having a physical existence (just as media stopped having physical form when iTunes came along), and simply exist/not exist based on atomic spin.