If you didn't catch the keynote from PDC 09 today then you can see the on-demand stream here shortly. This year the keynote was streamed with Silverlight Smooth Streaming: my experience was very good - didn't miss a beat in two hours - and there seemed to be positive tweets from others on the subject too.

Essentially the keynote today was Ray Ozzie and Bob Muglia - aided by a few others - talking about the delivery of some aspects of the Azure platform, and pointing the way to the future. You can see the official press releases here. A few links:
A starter for 10. There'll be a load more tomorrow, so get reading!