3G was also an evolutionary product, as was the 2G. The revolutionary products take a long time. Long enough for Jobs to take a vacation, come back, and they will still be working on it.
I thought he was taking a "medical leave of absense" and not a vacation.
It's possible that his condition is deteriorating, especially considering this is his second length leave of absence.
How long will the product development take---2 years? 3 years?
How long will Steve be out---a year? When he returns will he be at a 100% or will he likely leave for medical reasons again? For many people, this looks like the 'end of an era' with Steve Jobs.