I think the lack of anything exciting of late is due to the confusion of steve jobs. Apple is the kind of frustrating company where everything needs to be "signed off" by steve himself. (Remember him taking credit for the imacs floating screen. i bet J. Ive was livid)
Things only get to the next stage of development if he says so. That in anyones book slows lead times, and frustrates designer/engineers.
The lack of clarity and the amount of Spin that S jobs is intent of giving at presentations indicates this. Combined with the fact that apple is splitting into three companies, music, ipods and computers.
Hands up who believes OSx has been intel ready all along??
Thats why its all hands on deck now, for behind the scenes dull stuff. (re-working, not creation)