Granted, there was some cool stuff.

But Time Capsule didn’t do much for me, and while some of the features in the iPhone update are neat (especially the location tracking), I think we were all secretly hoping for the unveiling of the iPhone 2.

The iTunes movie rental announcement, again, I think fell a step short. While it’s nice that you can now download movies and TV shows directly from your television, this thing still won’t replace your cable box. Instead, it’s competing to replace your Netflix subscription.

But movies won’t show up on iTunes until 30 days after the DVD version (that you can get through Netflix), and the rental model that Jobs was promoting is too expensive. This needs to be a monthly, all-you-can-eat subscription.

Next, the MacBook Air is undeniably alluring. But really expensive.

The entry-level model is $1800, and the really cool model with the 64-gigabyte solid state drive is a staggering $3100. That’s nowhere near a mass market price.

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Finally, this was the first Jobs keynote that I can remember where there was no “One more thing,” a stunning, completely new product that set nerds’ hearts aflame.

But that is a really thin laptop.

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