My colleague Rich Olivieri offers this summary of SharePoint 2010 Points live from the Microsoft SharePoint Conference in Las Vegas:

1. Support for developing on a client OS so long as it is 64bit Windows 7 or 64 bit Vista SP1.
2. API available through REST. You can call listdata.svc and get a strongly typed response vs a weakly typed response from lists.asmx. It is WCF REST combined with ADO Data Services.
3. You can link lists through a look up column and pull in multiple columns from the other list for display.
4. Sandboxed solutions - more a thing for IT...it limits the sandboxed solution access to the object model that is directly related to a specific site collection.
5. SharePoint Online 2010 now allows deployment of custom code.
6. SharePoint Designer 2010 has increased support for developing deployable workflows (deployed as wsp) and BDC entities.
7. Remote Blob Storage - now you can store those really large binary files some place other than SQL.
8. Performance enhancements - throttling and large list control. SP 2010 now supports 50 million items within a SP list, but you can configure per web application settings to limit max sizes of query results (default 5,000) and send warnings out when list reach a certain size (default is 3,000). Overrides are available for object model access and PowerShell commands.
9. New PowerShell CMDLETS (command-let) represent functions that can be used separately or combined with other cmdlets to script complex SP administration tasks.

Specific to the keynote session today, he said:
• Public beta is in November.
• Upgrades: Existing 2007 should upgrade as is to the new infrastructure. Then by use of a visual upgrade tools IT/Dev/Users can decide to upgrade to the new UI.
• REST Services: RSS feeds probably now second to REST Feedservices using AtomPub...this is down to item resources. 
• In page edting of things like Site Titles and Site Images....can use Wiki style editing tags for links like [[this document:document link]]
• Offline editing and use of SP items via SharePoint Workspaces..the replacement for Grove.
• CoEditing of documents...close to Google Docs.
• Semantic Search...going to that session.

Other SharePoint related highlights from around the web, today:

• Testers to get Visual Studio 2010 Beta 2 this week; final by March 2010, Mary-Jo Foley, ZDNet
• Improvements to the Core SharePoint Platform & How the Benefit SharePoint 2010 Web Content Management, Andrew Connell, SharePoint MVP
• Describing SharePoint 2010 in 1 Sentence, 8 Categories and 40 Feature Areas, Jeff Teper, Microsoft SharePoint Team Blog