I'm just back from the Apple Store where I ordered the new iLife 05.

The new versions of iPhoto, iMovie, iDVD, iTunes are probably cool, but the main reason I'm upgrading is to get the new GarageBand. Last year I did the same: ordered iLife 04 in order to get GarageBand. This lead me to pick up guitar playing again, start studying blues and jazz, buying a keyboard and few guitars, ending up with a not yet cured and quite severe case of GAS (this is why I'm not ordering Jam Pack 4: I have no room for an orchestra at home ;-).