So what exactly has been revealed? Well the new products (excluding the iPad which has yet to be confirmed) will be running a new processor; the A5, which is the next iteration from the current A4 chip. It is supposedly an extremely fast multi-core chip which will apparently make a breeze of running 1080p content on the next generation Apple TV and will boost the performance of the next iPhone too. The iPad 2 hasn't been confirmed to be using this new A5 chip but it has a high likelihood.
The iPad 2 has already been seen in the wild but these, according to the sources, are not final products. The device will be thinner, have a much higher resolution screen similar to (but not the same as) the iPhone's retina display and most interestingly it will have an SD card slot! Unfortunately there was no mention of any USB ports but that was to be expected. The device isn't quite as ready as some have been speculating and is more likely to be released around April to coincide with Apples 12 month product cycles.
The iPhone 5 is under close wraps at the moment with only internal devices being tested at apple; probably to avoid the embarrassment from the iPhone 4 when it was found left in a bar. The sources did say however, that the new iPhone will be a complete redesign from the previous generations, again I'm guessing this is in response to those antenna issues in the iPhone 4. Apparently we can expect to see it launch in the summer if all goes ahead well.