Either way, I can imagine Apple's flirtation with cloud-based computing is an important aspect of this project.
You are probably right. I just don't want that option (totally personal preference) because I want to do Photoshop with stylus on the new computer. Even if the device is a "lame Air" it will still work into "the cloud".
Apple knows the big bucks truly comes from the hassle free sale of data--music, movies, app--avoiding manufacture of goods, packaging, distribution, loss of unsold product, theft, etc. They are chomping at the bit to get the OS downloaded instead of disk'd.
Somehow it seems improbable that Apple would start to lure in the kiddie-crowd and make a mere iPT 10" maxi. I suspect they will do the "retarded Air" as a tablet instead, so they step up and offer something for their swanky, professional customer base. ...then again, the iPhone/iPT negates a lot of potential for professionals which Palm and others cater to.