Free MobileMe? Unlikely, considering that Apple doesn't sell your browsing history to third parties to cover the cost.
New Mac Pros? Unlikely, considering the current Intel manufacturing bottlenecks.
Any other new Macs? I doubt it, although I can't give a good reason.
So what is it that won't disappoint us?
Apple TV? Well, with Google entering the fray, I think Apple will have to give it up as a hobby. So, I see it either being cancelled, or the service seriously upgraded. Considering that Apple seems to be getting more into multimedia distribution and integration, I suspect the latter. Buy or rent a movie, and you can view it on your iPad, your iPod, your iPhone, your Mac or your TV, with the Apple TV being the wireless device that streams your content to any or all of them. Just load the content onto your Apple TV, and tell it which device(s) you want to use it on, and it will automatically load it onto them, as well. However, I suspect that this will not be seen until an iTunes event in the fall.
That just leaves the iPhone. Jobs must have something up his sleeve to justify this claim, although he has previously overstated the significance of coming announcements. I am wondering how all of this ties in with the shape of the new iPhone. Why would Apple make the back flat, when this makes the phone less ergonomic and less visually appealing? I keep coming back to the idea that the flat back of the phone is a second touch surface, particularly for use with applications like video chat, so your hand is not in the way of the front-facing camera. Of course, Apple will tout this as being revolutionary, just as it did with the Magic Mouse (are we getting just a bit too Disney-ish, Steve? I mean, I know you are the largest shareholder of the pixie dust corporation, but really, does that mean that you have to talk like Tinkerbell?).
I think there will be a few other surprises in iPhone OS, as well, to address many of the perceived advantages of Android. But that's about it, for now. So, whether you will be disappointed will depend entirely on whether you are looking for something other than iPhone/iPad enhancements.