Apple has posted the iPhone OS 4 event video on its Website. The streaming video is available in 160-by-120, 400-by-224, and 640-by-360 resolutions.
You can also download the video to your iTunes account if you subscribe to Apple Keynotes in the Podcasts section of the Apple store.
The event is about a hour long, the same amount of time as a TV show. Who cares about another castaway being voted off of Survivor when you can get the details on iPhone multitasking, Folders, iAd, and more?