Well, his keynote starts in a few hours, and I'm sure everyone is filled with anticipation. 
I'll be watching a live stream of the keynote, and I'll try to edit this post when something important happens. The only problem is that I will be in school, so it might not be updated as fast as it could be (thanks, small form-factor iPhone). So if any other staff members see anything that I missed, feel free to add it here! The keynote is supposed to begin at 9:00 PST, which is UTC-8.
I will be editing this original post.
Live Steams: Cunning.TV, MacRumors Live and ArsTechnica.
Starting any minute now... 
:D
For those who haven't noticed, the Apple Store is down...
8:58: Media let inside.
Music is now playing.
9:14 am: New Get a Mac commercial: Happy New Year. PC has had a bad year, but looking forward to this year. Steve is now on stage.
9:15 am: Four things to talk to us about today
New product: Time Capsule: Small hard drive for laptops, 2 versions: 500 GB version - $299, 1 TB $499.
9:21 am: 20,000 iPhones per day average
9:26 am: Maps with location, Webclips, Customize home screen, SMS multiple people, chapters in videos, subtitles, lyrics (sounds like firmware 1.1.3). It's available today.
9:34 am: For iPod Touch: 5 new apps. Mail, Stocks, Notes, and Weather
9:36 am: 4 billion songs sold as of last week on iTunes
9:37 am: iTunes Movie Rentals. Touchstone, Miramax, MGM, Lionsgate, Newline, FOx, WB, Disney, Paramount, Universal, Sony. Over 1000 movies (available 30 days after DVD release). DAMMIT. Library titles: $2.99, New Releases: $3.99. HD rentals are $4.99. 100 titles today
9:43: "What about this flat-screen TV I just bought?" Lol, Steve, lol. Rent them in DVD quality and in HD. Rent directly from widescreen TV. We tried with Apple TV, now we have Apple TV take 2, no computer required.
9:51 am: Steve demoed starting a movie just after having rented it. He has an extremely fast connection. The movie was downloading at 1% per second.
9:58: Flickr isn't serving up photos for Steve. Hehe
10:04: This I'd a free softwre update and it will be out in Two weeks.
10:10: New notebook, MacBook Air. 
Competition specs: 3 lbs, .8-1.2 inches, 11 or 12" display. 10:13 am: display is LED backlit. iSight is built-in. MacBook-like keyboard, but with an ambient light sensor
10:12 am: Magnetic latch, 13.3" widescreen display
10:12 am: MacBook Air is 0.16" to 0.76". The thickest part of the MacBook Air is thinner than the thinnest part of the Sony. It fits inside a envelope. Multi-touch trackpad. Move a window by double-tap and move. Rotate a photo by pivoting your index finger around your thumb. Of course, pinch-zoom. Ships with 80GB standard, option of 64GB solid state disk "a little pricey but fast!" Hard disk is 1.8" hard drives from the iPods. 1.6 GHz Standard, 1.8 GHz Option -- Intel Core 2 Duo.
-Remote Disk will show you all the Macs and PCs in your vicinity that have software and "ask to borrow optical drive" so you can install software from a CD or DVD
-We have a new feature called "Remote Disk" for the MacBook Air
10:25: 2 GB Memory standard. -Pricing at $1799 Pre-orders today, shipping in two weeks. I WANT ONE.
Apple.com updated. Check everything out!
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