It's a shame -- iPhoto is likely the most heavily used of all the iLife applications. There are simply more people taking digital pictures than there are using GarageBand or iMovie. iWeb, left languishing by Apple with few updates and no new features, has probably forced people to look elsewhere for quick and easy web publishing. iDVD appears to be on life support too, which brings iPhoto to the fore of media sharing on the Mac.
When iPhoto '11 was released last month, it immediate