Apple iCloud and iOS 5:

Cloud-based photos, music, and video streaming service and next generation mobile operating system that are going to be the key attractions of Apple Worldwide Developers Conference (WWDC).
Keynote by Steve Jobs is this morning and coverage by top media will take place.
What happens to the MobileMe service?

If your $99 a year MobileMe account just automatically renewed,
Apple’s handing you back a refund —
today’s iCloud bonanza will likely include a drop in price for floating in the MobileMe cloud. Or maybe it’ll be free!