Apple today announced new iMacs. They are eliminating the 17 inch and replacing it with a 20 inch for the same price. The new iMacs will have glossy screens, feature more memory and larger hard drives. In addition, Apple announced iLife 08. Not only is it an upgrade to the suite of applications in iLife 07, but it features some new stuff also. More on this to come later. In the mean time checkout the liveblogging at Engadget.com.