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This update was a foregone conclusion, but further updates for the Mac pro line are very unclear. While there certainly are a lot of niche markets for the Mac Pro, most could probably get by with an iMac. However there is still one market that is very important market for Apple where Mac pros are crucial, the management of large numbers of macs and iDevices in education and enterprise markets.
However the "appification" of Lion Server offers another interesting possibility, namely that Apple ports the server services necessary to support and manage macs/iDevices(namely OpenDirectory, AFP, the iPhone/iPad tools and maybe the windows services) to another platform. This would allow Apple to drop the Mac pro while allowing there enterprise customers to host critical services on more rackable hardware, all without opening up the whole clone can of worms. For small businesses they will continue to develop the whole suite of server services designed to run on minis or iMacs.
I guess we will have to wait until at least WWDC 2012 to see if the new pro is the last one, maybe even WWDC 2013...