I kept track of the keynote at the Mac Observer, but some others posted on it before I did. 
I thought it was a bit ugly at first, but after seeing a QT VR movie of it, I like it a bit more. I also like the whole "three-screws" method to remove the back of the computer, revealing the internals! Marvellous!
The prices don't see all that bad, either. A 1.6 GHz G5 processor, 80Gb HD and combo drive with a 17″ screen for A$2199? Hmmm…
Since they fit all of that into a ~ 2 inch thick enclosure, I'm hoping a PowerBook G5 is not too far off!
UPDATE: Someone in the Slashdot thread linked to this image of the inside of the new iMac. Double nice.
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