Apple renames the iPod to iPod classic and pushes it's storage capacity to 160GB.

Now in its 6th generation, the new iPod classic delivers all the features you love about iPods, plus an enhanced user interface featuring Cover Flow and a new all-metal enclosure. iPod classic is priced at $249 for the 80GB model and $349 for the 160GB model.
"The first iPod put 1,000 songs in your pocket-this new iPod classic can put 40,000 songs in your pocket," said Steve Jobs, Apple's CEO. "With a thinner, enhanced all-metal enclosure.

The new iPod classic features up to 40 hours of music playback and seven hours of video playback in the 160GB model, and up to 30 hours of music playback and five hours of video playback in the 80GB model on a single charge.
More details on the Apple Store.

See also the new iPod touch.