The graphics and cpu boosts are nice (and nice that they are accompanied by a run time boost) but what about the camera? What about the sensors? Looking forward to the full appraisal post event.
Afterall, the MacBook Air wasn't a competitor to the netbooks - it was a competitor to the ultrabooks being touted by Intel et al. The iPad was the sleeper competitor to the netbook and killed that market (with help from Windows and Intel desperate to not have the PC platform not go that far down market).
If Apple comes out with something to address the 'appliance laptop' market I expect it to be an official Apple design and manufactured keyboard for the iPad line* and not an entirely new product.
I've not seen it mentioned anywhere yet, but the "iPad Air" and "iPad Mini" monikers leave room for the simply "iPad" moniker to eventually refer to something entirely re-imagined or ultra-premium. At the least it leaves room for a larger "iPad".
* What is the state of the art in usability in the 3rd party iPad keyboard market these days?
This is backwards: the original MBA was introduced in 2008, and Intel only introduced the "Ultrabook" branding several years later. The MBA was largely panned as a far-too-expensive Apple attempt to cover their flank from the inexorable advance of the netbook. It was only when the iPad and competitive Android tablets put paid to netbooks that Intel came around to the design.
Logitech ultrathin is very expensive but a must buy for ipad productivity. Ergonomics are excellent for dual keyboard and screen driving (iOS doesn't make sense completely from keyboard) and it can be used as a full laptop replacement for a lot of business applications.