Underwhelming????

Man, what do you want?
The Leopard delay isn't that bad, it is only 4 months. The displays as they are are perfect, let me now if you see something better.
And Apple isn't forgetting about the Mac .Just one year and a half ago Apple made the transition to Intel and put into market the MB, one of the best consumer portables out there.
It is just that Apple is not ONLY a computer company, it has the iPod, which is the reason the Mac has have better sells. The iPhone is a good move from Apple to increase their market share and make the Mac even more popular.
You aren't forced to buy iLife 07. Now with a bigger Mac community you can start expecting longer time between updates, which is totally understandable.
What are you asking for? I don't understand, do you want Apple to send an e-mail saying: "Please don't buy in the next few weeks, because in the next
month we are going to update the PowerBook, so please, don't buy right now". Apple is a business that is seeking to gain money, and they are good at it.
Again, don't you think the new MBP is enough? The MB was also updated recently. Don't expect that Apple is going to release updates every two months, they need time.
Steve made a demo of the iPhone to create marketing and interest in it. All the people talked for a few weeks about the iPhone saying how great it is. It has already gained the place of "awesome phone" in the minds of all the people.
And the iPhone is just a best business move than Leopard. Apple is trying to make money, not to make the "few-MacRumor's-never-satisfied-society" happy. Most of the Mac owners couldn't care less about Leopard being delayed 4 months.
Let's hope.