Will it save the publishing and media industries? Or will it be a massive chunk of failure? You can follow along with Engadget's liveblog of the Keynote or this livestream of the event if you want up-to-the-second coverage, but I'll be following along and updating important points here, too.
And as always, the comments section is waiting for you to declare it a triumphant win or a massive loss for Apple.
UPDATE 10:10: It's called the iPad.
10:14: They're promoting it as the "best web-browsing experience you've ever had."
10:22: At the moment, it looks like a big iPhone. Browsing, photos, iTunes.
10:28: Half an inch thin, one and a half pounds. 9.7 inch screen. 10 hours of battery life, over a month of standby time.
10:42: They've been focusing mostly on games, but they've just unveiled the New York Times on the iPad. it looks really amazing.
10:53: Jobs just said he's going to "stand on" Amazon's "shoulders" with a new app called iBooks. He's announcing the new iBookstore. It runs on epub, which should mean that it's open and you can import books from other sources.
11:10: They're pretty serious about it as a business device, too. The last ten minutes has been all about iWork and its business applications. Each application comes separately and costs $9.99.
11:13: It comes with Wifi and 3G. There will be two 3G plans on AT&T: 250 MB of data a month for $14.99. Unlimited for $29.99.You can activate it through the iPad.
11:18: "We want to put this in the hands of lots of people." Starts at $499.
11:38: That's it! You can vote on the iPad here.
* Thanks to Lara for the link to that one. The illustration to the left is a horrible guess of what the iPhone was going to be, from The Speculative Prehistory of the iPhone.