Engadget liveblog of the announcement

Notable: "We'll have 9 phones available when WP ships in November, from HTC, LG, Samsung, Dell.... you'll see phones with keyboards, phones for music, very large screens, and of course, ruggedized for the hardest user... like this Dell device"

We'll have to wait a little bit for all the technical details to come out.

And, of course, you can't watch the videos if you don't have Microsoft Silverlight installed. Fail.

Current impression, maybe one hour into the presentation, is that Microsoft has built all sorts of integration with their various cloud services (SharePoint, Exchange, etc.), so if you've already bought into all that, then a Microsoft phone will make a lot of sense in the same way that if you've bought into Gmail and other Google services, that an Android phone is an obvious benefit.