As widely expected, Apple's "latest creation" is a tablet device called... the iPad! Here's the official press release, and some details from TiPb's take:
It looks like a giant, wide, iPod touch with a gorgeous display and enough graphics power to throw around HD video and handle very slick UI elements without any hint of lag.
Also shown off were Maps (including street view), iTunes LP and iTunes Extras, and Email, Calendar, and iPod functions that look like the iPhone but with a massive functionality boost from the Mac side, including pervasive use of popups.
It will run virtually all iPhone apps, unmodified. Pixel accurate, or via pixel doubling. iPad specific SDK ships TODAY!
Images after the break, more as this develops!