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As expected, Apple (NASDAQ:AAPL) has announced a laundry list of varyingly interesting products and services. It's being treated like the reinvention of the web, of course, but cut through the Steve Jobs-accorded reality distortion field and you get a wireless set-top box for streaming video, a movie download addition to iTunes, and some storage upgrades on existing iPods.

Steve Jobs - Reality distorting wizard?

While this is all perfectly fine stuff, it's not clear why it has taken so long to launch it. The biggest issues:

* Apple won't have full availability until after Christmas selling season
* The iTunes movies are limited to 640x480 -- no HD, which is a big constraint
* The initial movie catalog is tiny, something like 70 movies, all of which are from Disney

All in all, not bad, but other than starting a portable music player price war and getting buyers looking at other companies' streaming TV boxes (because Apple's isn't available), I'm not sure that a heck of a lot more has been accomplished here.

Source: Apple's New Series of Releases Full of Limitations