The G4 runs up to 500MHz. PowerBooks are running at 500MHz. Prices are the lowest they've ever been on the ratio of cost vs. speed. MacOS X is four months off from completion, but promises a whole new world of compatibility, flexibility, and speed for Mac users everywhere.
Life is good.
Of course, all is not lost. At the last Macworld Expo in San Francisco, Jobs released and announced only a small batch of new software products, which don't usually have as profound an effect on the state of the Mac. But in the coming months, it seems more likely that Apple will have new hardware to show off. Apple often takes advantage of this conference to announce new technologies for developers to begin implementing. The summer promises to be an exciting period.