iWork.com is not a full blown online version of the productivity suite as some had predicted, but instead is more of a collaboration site. Users will be able to upload and download documents from the site, and you can add comments and notes on the document. Multiple people can view and annotate.

The feature launches in beta today as a free service, but eventually will be fee-based, Phil says.

Keynote: Will support “magic move” transitions, which are essentially can animate objects between two slides, movement of objects in a 3D space, new text transitions, and so forth. New themes are also available, and Keynote Remote allows the user to employ a Touch or iPhone to control presentations.

Pages: New “full screen view,” new “dynamic outline” feature in Pages, and mail merge with Numbers spreadsheet, new templates.

Numbers: New and improved formulas. Schiller seems to admit that Numbers needed a lot of help in order to make it the primary spreadsheet for people.

Overall, a muted announcement in my book. $79 seperately, $49 when purchased with a new Mac. A family pack option will also be available for $99, and users can get iLife and iWork together for $169, which would be available in mid-January.