SharePoint Services in the Cloud???

On Monday,after the SharePoint Online session here at PDC we asked some questions afterwards about the SharePoint Services that were announced at the Keynote as the SharePoint version in the cloud. We were curious whether it would be anything like the current SharePoint version, whether it would be build from scratch, or whether it would be build on top of the current SharePoint versions.
The answer was that they have no idea yet. Microsoft didn't even start serious preparations for moving SharePoint to the cloud, so it will be some time before we can visit SharePoint in the cloud.