McGraw-Hill's CEO has outed the iTablet before Apple's "Come see our latest creation" event, scheduled for tomorrow, revealed it runs the iPhone OS, and undoubtedly has just earned himself a "bag of hurt" at the hands of one Steve Jobs. At 2:50 seconds in, Terry McGraw tells CNBC:

"Yeah, Very exciting. Yes, they'll make their announcement tomorrow on this one. We have worked with Apple for quite a while. And the Tablet is going to be based on the iPhone operating system and so it will be transferable. So what you are going to be able to do now -- we have a consortium of e-books. And we have 95% of all our materials that are in e-book format on that one. So now with the tablet you're going to open up the higher education market, the professional market. The tablet is going to be just really terrific."

Yeah. Oops! (But at least we appreciate the news!)