Very few details beyond that were available, but at least shareholders now know that Steve Jobs didn't invest in this just to store his own personal movie library. Adding more capacity for iTunes and MobileMe could mean big, big things for the future. Already, rumors have been swirling that Apple is interested in selling 24-bit digital music, which would obviously require more storage and more bandwidth. Furthermore, MobileMe is in dire need of an overhaul, and honestly, it should be a free service.
There's also the possibility that Apple is planning to compete more heavily with Netflix, and having a new data center to stream multi-media would obviously come in handy. Hopefully more will be revealed shortly, possibly at the March 2nd event. A big, mysterious box with Apple's name on it in the NC mountains is causing an awful lot of speculation, but would anyone really expect anything different?