Apple announced iLife '11 today, available immediately for $49 for those wanting to upgrade an existing iLife suite, or free with the purchase of a new Mac.
iLife features overhauls of iPhoto, iMovie and Garageband. Missing from any mention at the "Back to the Mac" event is the fate of iWeb and iDVD. They appeared in the row of icons, but no new features were announced. Apple's iLife site has not updated yet, and the Apple Store is still down, but as soon as we get more information we'll let you know!