You’ve got a lot of content floating around on your computer. After downloading all those songs from iTunes, loading all those pictures from your digital camera, and editing all those videos in iMovie, the last thing you’d want to experience is a sudden loss of all that precious data. Apple has heard your cries, announcing the Time Capsule server for wireless time machine backup.
In short, what they have done is taken the existing Airport Extreme (with 802.11n connectivity) and tossed in server grade hard drives for backing up all the Leopard Macs you have rocking around in your house. After the initial setup, all Macs on the network are automatically backed up wireless and constantly (with support for up to 50 users). The USB port can effectively let the Time Capsule to work as a print server too.
Pricing for the 500GB and 1TB models have been set at $300 and $500, respectively.