Neat. We look forward to seeing what it is like.
And, for all the zealots out there, lets try and remember the market and purpose of this product before we start ranting. I remember when iPhoto was released there were people hammering it for not supporting photoshop filters, colour separations or a dozen other things that really wouldn't be appropriate for the market it was intended for.
Keynote looks fantastic, and I would much rather do my presentations for university on Keynote, with its sleek design and alpha-blended graphics, than on a certain other app which I won't name ... (Cough, cough, PowerPoint, Cough)