WWDC isn't really for the average mac/iPhone user. It's for developers.
I'd rather see the edited/trimmed down keynote a few hours later on Apple's website, but that's just me. Mac Rumors and many other sites offer live tweets during the keynote.
exactly. There'll be new stuff, sure, but a good amount of what they show will be geared towards developers. It'll be stuff the average consumer either doesn't understand or care about (or both). Remember the year iAds came out (iOS4)? That was their main tentpole at WWDC, because it meant an easy way for devs to monetize their apps. It certainly wasn't the tentpole feature of the release, but for devs it was a big one.