Oh, my. What is it with you people?
Apple is not a dumb company. They know what they are doing. Requiring a log-out/log-in is not the Apple way of working, but I can assure you, the code required to even switch between two GPUs without anything running on them is terribly complex. To do such a thing on the fly is even more complicated. I'm willing to bet that Snow Leopard will tie a lot of loose ends together for these machines.
Let's look at this list:
Linkety
The only "con" that requires extensive hardware changes to fix would be the re-addition of FireWire. (I am in favour of that, by the way, and to see another FW port on the Pros... a second 800 would be nice, as if you have a 400 device you end up bringing the entire bus down)
The $99 adapter for 30" displays will be less of an issue when the 30" display gains DisplayPort connections. By the way, anyone else see the incredible parallels between ADC and DisplayPort? Power, USB/Data, and Digital Signaling all in one...
CPU speeds will increase over time. Sure, they didn't go up much now. Wait for a Rev. B if you actually need those extra performance points. But for the vast majority of users, those processors will be perfectly acceptable, and this "con" is more of a "it'd have been nice to see" vs. "it really sucks that"
The Trackpad pane is a software fix, like the GPUs are.
And I feel like the 17" MacBook Pro isn't going to be phased out, but that's just me. There is certainly some uncertainty about it. More than likely, it's just getting manufacturing down and Apple had to go to the event without it. Either way, we'll get our answer pretty soon.