Ooooh! It’s nice. Five hour battery, fits in a manilla envelope, 13.3 inch screen, full size keyboard and only $1799!

Apple Inc. Chief Executive Steve Jobs took the wraps off a super-slim new laptop Tuesday, unveiling a personal computer less than an inch thick that turns on the moment it’s opened.
[…]
Always a showman, Jobs unwound the string on a standard-sized manila office envelope and slid out the ultra-thin MacBook Air notebook computer to coos and peals of laughter from fans at the conference.
At its beefiest, the new computer is .76 inches thick; at its thinnest, it’s .16 inches, he said. It comes standard with an 80-gigabyte hard drive, with the option of a 64GB flash-based solid state drive as an upgrade.
[…]
The new laptop, which has a 13.3-inch screen and full-sized laptop keyboard, will cost $1,799 when it goes on sale in two weeks, though Apple’s Web site already has been updated to reflect Tuesday’s announcements. The price is competitive with other laptops in its market segment.

You can see some pictures and liveblogging of the Steve Jobs presentation here.
Updated: Here’s the video. All I can say is “ooohhhhhh!” It looks like they’re using some of the capability of the iPhone with their trackpad (pinching, swiping, etc.) The reason that it’s so thin is that it doesn’t come with an optical disk drive, so you can’t watch DVD’s on it. You can buy a separate disk that connects with a USB cable. Also, it ships with a disk that contains the software to allow the MacBook Air to use the drive of a remote PC or Mac so that software can be installed on it. Pretty cool!
(via)