Today will be a bid day for Apple, as Steve Jobs steps to the mic to show where Apple is headed and the great new products that will be released hopefully this year. Those being iCloud, iOS 5, and of course the much anticipated OS X Lion. There will also be updates to some of the products you already know and love which the biggest rumor so far is the wireless Time Capsule backup/router updates. According to sources the iCloud service and Time Capsule will work together. It is said that Apple has developed a system to make users’ Time Machine backups available through its new iCloud service. The system will be based on Time Capsule, Apple’s wireless router and hard drive backup that’s currently sold in 1TB and 2TB versions. As rumored, Time Capsule will be updated, becoming less of a local backup and more of a personal cloud server, like the newer souped-up NAS (Network Attached Storage) drives from companies like Iomega. The new Time Capsule is rumored to run on iOS and come with embedded A4 or A5 CPUs. The most amazing thing here is that it might be that Lion maybe introduced on Tuesday June 14th to the general public for sale. So Steve Jobs looks like he will have a lot to talk about today. I can’t wait to hear what he has to say about this.