I think the issue is that as journalists (and I'm using that term VERY loosely), they get access to information before anyone. Even stuff that doesn't get published. On top of that, the rumor mill on Apple news, which used to be notoriously bad, has gotten much better. So they're getting much more real information than before, mixed with pie-in-the-sky rumors, and when the actual announcements are made, it's already a case of been-there, done-that.
Look at the iPad 3. Every feature that was announced was accurately reported before hand (sometimes MONTHS before hand), except for the name. It was old hat even before it got into their hands. Of course you'd be jaded.
The media has had this attitude with Apple in the last couple of years ... if it's not a massive departure from what's already out there, it's a failure. Yes, in YOUR eyes, because it's your job to break the news, and incremental changes aren't sexy. Yet every Apple product sells better than the last. The marketplace sees the true value that the media doesn't. This gap is ever-widening. Until Apple stuns everyone with a brand-new product that no one was expecting, the media will not be impressed. The only way to impress the media is to break your own news, basically keeping the media from doing their jobs, and that's tricky.