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Microsoft is experiencing the same kind of thing now... they make alot of different products that are all bleeding the company and the only thing that brings in money are office and windows.
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Back in the mid-90s, Lotus went through the same craze when they bought companies to make their SMARTSUITE (that was everything but smart). They ended-up being bought by IBM and only CORE business remains: Lotus Notes.
If I cannot propose a shopping list to Apple, I can suggest that they "finish" off their products for a starter. Here are some ideas:
iPhoto should support all media types that my digital camera can make. This includes short movies and sound recordings.
The new iMac should be shipped defacto with a bluetooth mouse and keyboard. Why make such a stylish product to have clumsy cables on the desk?
.MAC accounts should be more than 256Mb for the $100 cost. Yahoo eMail offers as much for free.
Configuring Macs with only 256Mb RAM is a joke. If you plan to use iLife, or any other graphics programs this is LOW.
A TV tuner should be included in all Macs
etc..