On the processor front, Apple failed to deliver on rumors of faster G5s. Instead, Jobs announced that the G5 would be coming to Apple's 1U Xserve line in single and dual-processor configurations. Jobs also announced upgrades to Apple's Xserve RAID systems, but it appears that the Power Mac line was left untouched.
The bulk of Jobs' presentation seems to focus on software; Microsoft Office 2004, iLife 04, and a new application called GarageBand were all demoed during the keynote. Jobs also announced that the iTunes Music Store's track library has grown to half a million songs, and that the store has sold 30 million tracks.