I'll start by commenting on your last line. Ranting is fine at times, as long as you don't think you represent everyone

I'll do the same in my own rant
I think the fact 10.5.4 is being seeded only ONE WEEK after 10.5.3 shows Leopard is a huge lump of a mistake. Indeed, talk of rapid change to 10.6 suggests Leopard is being abandoned for a re-write of the OS. A tacit admission of failure.
Or a tacit admission of progress? Every OS is "abandoned" for the next thing the company produces, not because the old doesn't still serve it's purpose, is broken, or anything negative, but because the company believes they can do it better still (which results in sales, surely) and make something the user will enjoy.
As far as quick point update releases, I would bet that Apple had two teams working on two different sets of problems and implementations. If 10.5.4 is right around the corner, than it is probably more a support update, not a bug fix update. But that doesn't mean that they won't incorporate any new fixes that they have at the time it is passed out.
Leopard has been a disaster for users, breaking machines, frequently crashing (and ruining the previous excellent stability record of OS X) and being pathetic with wifi.
I guess I'm one of the lucky users that has had NO problems with leopard, and I use my laptop on multi platform networks, hard wires and wireless, with a device for every single port my Powerbook has (minus the mic) and use them all at once. I don't use all iLife apps certainly, but am an avid photographer and am amazed at how well my computer still handles the images my 20D spits out.
I am lucky to have two Macs, my main being an iMac, but I have a Powerbook 12". Whilst I have opted to upgrade the iMac, the Powerbook remains on Tiger and the difference shows. There have been times I have had to turn to the Powerbook for reliability of the OS to complete work. There are no wifi problems with the PB - despite the Al casing - whilst the iMac hangs... sitting next to the laptop. There are some on this forum who consistently deny there are problems with Leopard's wifi handling, blaming ISPs and hardware. Ask any Apple Store Genius and they will tell you what we all know: Leopard breaks wifi. Indeed they are fed up with half their daily work appeasing Leopard users with problems that needs OS fixes and can't be solved in store.
I am not a power user, but if I have problems with some website building (don't get me started on iWeb), word processing, Net use and DVD authoring what must power-users who have deadlines and deals on the line be going through?
They must either be going out of business, not having the problem at all, or finding a fix. There aren't many other options.
I am a long-term reader of the forums, and I am sorry if I come across as negative, but Apple have seriously dropped the ball on the software.
And I don't see that at all. The recent advances in Apple's software continue to surprise and amaze me. Perhaps some of this comes from looking at it from the point of a Computer science major, and I do need to remember at times that the beauty of the ability isn't always as important as the end result of the software. But I can't help but look at software from many different companies on a weekly basis and find obvious and stupid bugs, UI implementation, and inconsistency that is quite infrequent in the majority of Apple's applications.
Let's look at the recent history: Pages, iWeb, iPhoto 08, iMovie 08 and Leopard were all useless on launch, and iWeb, iMovie 08 and Leopard are still inferior releases.
if iMovie was inferior it wasn't due so much to bad programming, as much as bad choices to ever ship it. They THOUGHT costumers would like it more (you know, so they could sell it) but costumers did not, and I believe they resolved that in some fashion?
I of course, on an experience level with my own Mac, and my Families other PPC, and 4 Intel based laptops all running Leopard, would have to disagree that Leopard is any sort of standard on shoddy work. For us it works quite well. (And that would be Two Computer Scientists, a Doctor, and 3 Artists for the record, who all use their Mac in their field daily, all but me, stupid PPC

)
The recent profit boost has come from iMac sales, not iPod/iPhone sales. Yes these latter items are technically brilliant and shiny, but Macs are the core and where the profits are, losing sight of that and focusing on the periphery could bring Apple tumbling down.
I don't think they have lost site of their Computers at all. These devices are enabling Apple, not dragging them down. They are bring new costumers, and better than that, are a test bed for future technology.
Apple has produced a Cross platform device that isn't a computer, and yet puts OSX in everyones hands, along with this new fangled touch screen technology, a technology that most people haven't seen used in the way its implamented on the iPhone/Touch. This technology is just BOUND to make it into future Apple computers, and I honestly think it will make it to computers FASTER than if Apple had tried to go straight to their core computers with the technology as a first step. For starters, the technology would have flopped. Now Apple has a name in the touch screen world. Their OS Engineers have experience, applied, practical experience with feedback from costumers. On a small managable scale they are figuring out what works and does not work, and this knowledge is directly applicable to the steps taken to bring it to Laptops/Desktops/PDA devices.
Finally, I am amused some think "Snow Leopard" will be the first OS to drop PowerPC support... surely that was Leopard 10.5.0? Reading these forums the bulk of the complaints come from G4/G5 users, so it is clear Apple have dropped support there.
Thanks for letting me rant!
Having more problems from PPC users, especially really old PPC machines, is no surprise, is it? It's harder to test for all these machines, and it IS harder to care. It's a bigger deal if a bunch of intel chips flop than if all the Bondi Blue iMacs do, right?
At this point in time my trust laptop, with 3 Kernel panics to its name, has served me for 4.5 years, and is coming up on the designs 5 year anniversary. At this point in time, if I install a new piece of software I pray to God it works, but am not surprised if it doesn't. Operating Systems are in the top 3 category of Intricate, complicated, sophisticated, and blindly brilliant pieces of software produced today, and OSX is no exception.
I'm not trying to discredit you, because I believe you have problems. But I also know that many many people do not, and yet you talk as if you represent the world and Apple is going to the gutter. Personally I think Apple is stronger than it ever has been, both as a company, as well as by the products they produce. But that is just my opinion based on my own experience, and nothing more.
[/end rant]
Cheers,
~Earendil