With Steve appearing as the keynote speaker at MacWorld Tokyo, I guess we can rule out that nothing new at all will appear.

But what could Stevo show over there? My guess is software, as Apple publicly stated that there won't be any new hardware until MWNY in July.
A sneak peek at Mac OS X 10.2? Nah, I guess that'll be shown at WWDC first. Makes more sense.
Already an update for iPhoto? Why not, but that wouldn't produce any waves...
A big update for iPod's system? Why not, but if it doesn't really enhance the experience, this also won't be all that much...
Well, we'll know soon...

But what could Stevo show over there? My guess is software, as Apple publicly stated that there won't be any new hardware until MWNY in July.
A sneak peek at Mac OS X 10.2? Nah, I guess that'll be shown at WWDC first. Makes more sense.
Already an update for iPhoto? Why not, but that wouldn't produce any waves...
A big update for iPod's system? Why not, but if it doesn't really enhance the experience, this also won't be all that much...
Well, we'll know soon...