Absolute truth. I can see cheese graters still gracing the desks of professionals twenty years from now.
It just needs some "phreshening", according to some. It's hard to come up with things to do with the design because, not only does it work so well, but the four handles/cheese grater has been with us for so long that it's hard to envision anything else as being better.
Wait! I really have it this time... built-in iSight. There's a reason to keep it on your desk.