Andrew Munchbach reporting for Boy Genius Report:

Apple will be holding a media event titled “Back to the Mac” on October 20. The invitation seems to indicate that the focus of the meeting will be on/around Mac OS X 10.7 — maybe to be called “Lion”? — and the Mac.

Apple’s media event will begin in a couple of hours and I thought I would publish my two cents.

The event will bring the introduction of Mac OS X 10.7 Lion, iLife ’11, and a new MacBook Air. 10.7 is practically a lock, just look at the Lion peering through the invitation, if that’s not 10.7 I don’t know what it is. iLife ’11 will also likely be introduced and will follow Snow Leopard’s lead with a new, lower price point.

And finally, the new MacBook Air which Engadget managed to obtain details of and that Thomas Ricker published about early this morning. 11.6-inch display, two USB ports, SD card reader, new-style trackpad, and a repositioned power button that lends credence to John Gruber’s rumor from a recent Talk Show episode that stated that 10.7’s big feature will be instant-on wake from sleep.

This is poised to be a pretty good event for those of you who have noticed Apple’s Mac offerings getting a little stale. I’m incredibly excited for 10.7 and iLife ’11, I spend a lot of time on my Macs and would love to see a few new features show up in the OS and some of my most used apps like iPhoto or Mail.

Apple will be streaming the event live on their website as they did with their most recent event in September. However, I won’t be able to watch the event live today nor will I be able to really process the announcements until tomorrow afternoon. Hopefully I’ll having something insightful to say by then.