The Special Event starts in a few minutes. We'll try to provide a quick and non exhaustive coverage on MacScoop.com [1].

UPDATE:Event has ended, transcript here:
Event starts at 10pm (San Jose)
- event started, apple store closed
- Apple releases faster iMac with integrated iSight, a controller and more storage (starting @$1299)
- Apple releases Photobooth, photo management app
- FrontRow: kind of Media Center app with iPod like controller...
- iPod video announced 30GB/60GB ($299/$399), 2.5 inch display, 320x240 MPEG-4, H.264, TV-out
- UK prices to be confirmed later
- ads featuring Eminem and U2
- iTunes 6(!) gets customer reviews of songs, you can buy songs for others
- a video on the store costs $1.99, has same DRMs as songs, 2000 videos available.
- Apple announces deals with video content providers like ABC, for TV shows
- Lost, Desperate Housewives, Nightstalker and otthers : $1.99 (or €2.49) for each episode
- Deal with Disney.