I noticed the thread on this early today, but this is a deal I am submitting as it is cheaper!
This is the previous generation.
* Automatic backup with Time Machine
Time Capsule works automatically with Time Machine in Mac OS X Leopard to create the the perfect no-hassle backup solution. There are no cables, so you can back up all the computers in your home to a central location.
* Server-grade storage
The massive 500GB server-grade hard drive gives you all the capacity and safety you need for backing up all your Macs.
* Easy wireless networking
Connect your DSL or cable modem to Time Capsule and quickly create a new wireless network or extend an existing AirPort-based network using the easy-to-use AirPort Utility for Mac and PC. (1)
Up to 5x the performance, 2x the range
Time Capsule uses next-generation 802.11n wireless technology to deliver up to five times the performance and up to twice the range of 802.11g wireless networks. (2)
* Wireless integration
Time Capsule also works great as a wireless hard drive whether you have a Mac or PC. It sets up in a snap, giving you a networked hard drive you can use for storing and sharing any kinds of files.
* Print without wires
Print documents, photos, and more from any room in the home or office to a central printer connected to Time Capsule via USB.
(See system requirements.)
* Strong security and access control
Protect yourself with the built-in firewall and industry-standard encryption technologies including WPA/WPA2 and 128-bit WEP.
* Works with iPhone, Apple TV and more
Time Capsule works flawlessly with Apple TV, iPhone, iPod touch, and all your other Wi-Fi devices that use the 802.11a/b/g and 802.11n draft 2.0 wireless standards. (2)
(1) Wireless Internet access requires a wireless-enabled computer, a base station or other access point, and Internet access; fees may apply. Some ISPs are not currently compatible with Time Capsule.
(2) Time Capsule is based on an IEEE 802.11n draft specification and is compatible with IEEE 802.11a, IEEE 802.11b, and IEEE 802.11g. Performance is based on a comparison with Apple's 802.11g products. Comparison assumes Time Capsule-based network with 802.11n-enabled computer. Speed and range will be less if an 802.11a/b/g product joins the network. Accessing the wireless network requires an AirPort or AirPort Extreme enabled computer or other Wi-Fi Certified 802.11a/b/g-enabled computer. Actual performance will vary based on range, connection rate, site conditions, size of network, and other factors. Range will vary with site conditions.