Macworld 2008′s keynote is currently underway and the first new product out of the gates is Time Capsule.
Time Capsule seems to be Apple’s answer to wirelessly backing up your data with Time Machine. Time Capsule is an Airport Extreme base station with a “server grade” internal hard drive. It looks pretty much identical to the Airport Extreme Apple currently offers.
There will be 2 versions available: 500 GB version at $299 and 1 TB at $499.