WSJ had a commentary by Bill Gates and Paul Otellini recently on the supposed end of the PC era:
…The model which has fueled the incredible popularity and affordability of the PC will continue to drive innovation and choice in the burgeoning area of personal devices such as cell phones, digital players and mobile PCs. As such, the PC is becoming more important and popular as a key enabler for these new digital scenarios in every corner of the world, from Indianapolis to Istanbul. If anything, it is, to paraphrase Churchill, perhaps the end of the beginning: the end of the first phase in the life of a young and evolving technology that is just now becoming as ubiquitous as the TV or the automobile.
We believe that the PC will be even more important in the years ahead, and that the experiences delivered through personal devices are far from “complete” or have in any way reached the end of their history. This is because peripheral devices and the personal computer exist in a symbiotic relationship. Together, they provide ever-greater freedom, choice, flexibility and affordability in our options for communicating, accessing information and experiencing entertainment where and how we want.