So it has been confirmed, that Apple are to switch from IBM chips to an Intel based architecture. The main reasons given talk about a better roadmap for the Intel architecture, but basically boil down to the problems IBM have had producing fast and cool running G5 processors, rendering a G5 based Powerbook impossible.
Interesting gems from the keynote included confirmation of what has always been rumoured, that Apple have had an Intel version of MacOS X up and running for years. In fact every major version of the OS has been compiled on an Intel platform, and Jobs gave the entire demonstration with an Intel based Mac.
However, as has been speculated, although the underlying processor will be Intel, this won’t be running MacOS X on a PC. After the presentation and Apple VP confirmed that Apple will not support running of Windows on a Mac, nor will they allow MacOS X to run on non Apple hardware – however I doubt that will stop people from trying!