To anyone who as been following Lytro, I don't have much to add.
To my friends who haven't had the pleasure of my bending their ear about this, check this out! Lytro has released what they're calling a Light Field Camera. It is a camera unlike anything you've seen. What it does is capture not just an image, but the entire "field" of the image. This means directional information, too. With that extra information, a picture could be re-focused after it is shot. You could change not only the focus, but the effective focal-length. Want more in focus? No problem!
With that ability, the camera doesn't have to worry about focus before you take the picture. This means no shutter delay. When you push the button, you have the picture. This also means wider aperture (f/2), which means great low light performance. The light field data can even be used to generate 3D effects.
This is exciting new technology. Every new parent should get one, and never miss a shot to shutter delay, bad lighting, or poor focus.