This is how things should be done: Offer a comprehensive set of tools and software to families for a price that will not cripple us. With a license for up to 5 computers for all of the included applications (Leopard, iLife and iWork) this is the perfect purchase for anyone with more than one Mac in their life. Pricing software reasonably is something Apple is known for, and this is another example of their family friendly approach. It's much appreciated, especially in an economy like this one!
Leopard is easily the best of the best when it comes to an OS (Operating System). It is stable, fast, and as intuitive as any OS I've ever used, and I've used every single Windows or Apple offering to date. If you don't have Leopard, now is the time to jump in, the water is warm!
iLife is probably my least favorite part of this package, not because it is bad, but because I actually much preferred the old iMovie HD with it's greater level of control over audio files. Sadly, iMovie 09 lacks a strong set of features when it comes to adding and editing audio in your movie files. Thankfully, I found a way to have both on my MAC at the same time, so that's not an issue anymore. iPhoto is good, and does what it always has, and does it well. The newer features (face recognition, tagging locations) are ok, but face recognition doesn't really work very well and tagging locations manually (assuming you don't have a GPS enabled camera that does it automatically) is a bit of a pain, but really cool if you spend the time to do it right. Garage band is very, very good, as it always has been, but there aren't any real major changes from the 08 version to 09. iWeb I've not really spent much time using so I can't speak from personal experience, but it appears that most people (from talking to a few friends and reading reviews) are having good experiences with it. iDVD is virtually unchanged since the 08 release.
iWork is a very nice upgrade from 08. Pages is the most improved with the ability to easily import and export as .doc files for Office compatibility very easily. You can also now export as a .PDF which is very, very useful. Numbers has also been upgraded, as works well across the board, but it still isn't Excel. If you don't use very complex number tables or special functions, you'll likely never miss Excel, but if you don work with tilt-tables, macros, etc., Pages will not be an Excel replacement, at least not in it's current permutation. Still, iWork isn't as comprehensive or as powerful as Office yet, so if you really need professional tools, you might consider getting Office 2008 instead. If you're using it for general tasks (word processing, writing papers, etc.,) it is more than capable and very worth the purchase.
Overall, this is an amazing value with a suite of tools that are remarkably good almost without exception. While some of the new features are not as useful as they might be, Leopard is still the best OS out there, iLife serves its purpose, and iWork has been improved immensely. If you've got some updating to do, now is the time to make it happen.