iPhoto: Import ---> Edit ---> Print. When you plug in your camera, iPhoto launches auto-magically. Allows you to do a contact sheet, crop, and print simply, using colorsync for dynamic prints without worry. Very cool.
Realised they needed to do more. Now also helps you save them, organize them, and share them. Steve does a demo... Takes a Canon camera out, takes a picture of an employee ("Oh, c'mon, don't be bashful. There's only 100,000 people watching on the internet."). Looks a bit like iTunes, thumbnails on the right, photo albums on the left. Can scale thumbnails to any size you like, also can separate my "film roll" (new one every time you dump your camera's storage card).
You can edit right in iPhoto. Non-destructive cropping with presets for basic printout sizes (4x6, 5x7, etc.). Can also do some basic color changes, like to black&white. You can also pick another editing program if you like, like Photoshop (once it ships, of course).
New ways to share photos. There's an on-screen slide show with dissolves and music, also automatic iTools home page creation with an album of photos, uploads photos and publishes the web page for you.
Printing is incredibly simple. Select your printer, paper type and hit print. It can also print greeting cards and contact sheets. You can also order Kodak prints on photo paper up to 16"x20", straight from iPhoto.
"The best for last." You can design and have printed a hardback book with all your own photos and layout, all from within iPhoto. You can select from 6 book designs, including Storybook, which is awesome. 10-50 pages. Books ship to you in about one week. Wicked cool. 🙂