I'm a little shocked to find out that Apple is really doing this, after all the rumors.
I'm also disappointed. I realize that if Apple is pretty much unable to get the chips from IBM that they need to bump their laptop line, etc., that this might be their only real option, but from a developers point of view (coming from OS X, not necessarily looking at it from the outside), I think this kind of sucks.
One of the things that has made programming on a Mac so nice for me recently is how elegant the PPC architecture is compared to x86. This isn't really an issue for most desktop apps, but for high performance code, especially where SIMD and assembly is involved, PPC is a whole lot nicer to program for. Altivec has a much nicer instruction set overall, including some things that are simply missing from SSE like the permute unit, not to mention the fact that Altivec has 32 registers vs the 8 registers for SSE. The same goes for general purpose registers. x86-64 seems somewhat underwhelming (especially on the Intel side), and there doesn't seem to be a lot in the future of x86 that will be very groundbreaking (though I suppose they could keep hacking away at it

). In contrast, PPC970 is still pretty new and IBM is still doing really cool stuff with the PPC platform in general as is evidenced by what they're putting into the various next generation video game consoles.
In the end, it probably won't be earth shattering to not have access to all of this in the future, but it definitely makes the Mac platform a little less nice to develop for in the long term. It also makes me a feel a bit like I wasted my time learning hardcore PPC optimization techniques over the last few months

Oh well.
I guess the big advantage will be the fact that emulation of windows API's can be done with near native speed now, as opposed to the slow Virtual PC alternative. This should allow access to more of some of the great win32 audio tools in a more practical fashion.
However, the big advantage OS X offers over other operating systems are the extremely polished and very well designed API's that it offers, especially some of the newer ones in Tiger like spotlight, coredata, coreaudio, coreimage, etc., in addition to all of the heritage from NeXT in the form of Foundation/Interface Builder, etc. It's quite true that it should be easier to port programs to Mac OS X now from other OS's on
some level (though the biggest advantages will only be seen here for apps containing x86 asm or SIMD), but you still won't get the real OS X experience unless the program is written from scratch to take full advantage of the features the OS offers.
All in all, I'd say that except for some commercial stuff, probably not a whole lot is going to change on the audio front by Apple making this switch.